The US has not built a new refinery in recent decades due to environmental concerns, policy shifts and regulatory hurdles, with several old refineries shutting down, including planned closures in California.
Globally, the oil refining industry is expected to add new capacity, but this is mostly from China and India.
Earth has vast resources of crude oil and coal in the ground, Ronald Stein says. However, the more advanced developed economies are the least likely to allow any “dirty” emissions-generating plants to be sited, permitted or built in their backyards.
Of course, and this is something Stein doesn’t mention, by following the United Nations’ spurious climate crisis agenda while the East does not, the West is handing over control of the world’s fuel supply to “developing nations.” As the saying attributed to Henry Kissinger goes: “Control oil and you control nations; control food and you control the people.”...<<<Read More>>>...
