It looks like the next big refineries will be built in the middle east. Yes, if the US won't build the capacity, the crude producer are going to step in and built their own to supply value add products. Now, won't that make the eviromental guys happy, and Washington and Orogon are a long way away. Actually not, as they won't be able to regulate the green house gas and other plant emmission. It is my boys 14 and 10 that I feel sorry for; they will be lucky to get to drive the trucks when they turn 16. .
Wait until 2012-2018 when the world oil production is expected to peaks. that as little as 8 years, maybe 12 years. Then prices will be driven by tighter supply and bigger demand. We need to open up Alaska now, it will take 5-10 years to get Alaskian Crude on line and then it be 10-15 year supply, yes will need a refinery to process it or we end up sending it to Japan like we do now.