{"id":1516190,"date":"2022-06-15T06:05:20","date_gmt":"2022-06-15T10:05:20","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1516190"},"modified":"2022-06-15T06:05:23","modified_gmt":"2022-06-15T10:05:23","slug":"chevron-we-may-never-build-another-oil-refinery-in-the-u-s-again","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chevron-we-may-never-build-another-oil-refinery-in-the-u-s-again\/","title":{"rendered":"Chevron: We May Never Build Another Oil Refinery in the U.S. Again"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchevron-we-may-never-build-another-oil-refinery-in-the-u-s-again%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1516190&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"https:\/\/www.theepochtimes.com\/t-chevron\">Chevron<\/a> CEO Mike Wirth said in a recent interview that he does not believe another oil refinery will be built again in the United States, saying that government policies are a key reason why, as average gas prices continue to rise as of Tuesday.<\/p>\n<p>\u201cThere hasn\u2019t been a refinery built in this country since the 1970s,\u201d Wirth said during Bernstein\u2019s Strategic Decisions Conference on June 1 when asked about more refining being added in the Gulf of Mexico. \u201cI personally don\u2019t believe there will be a new petroleum refinery ever built in this country again.\u201d<\/p>\n<p>Wirth added: \u201cCapacity is added by de-bottlenecking existing units by investing in existing refineries \u2026 but what we\u2019ve seen over the last two years are shutdowns. We\u2019ve seen refineries closed. We\u2019ve seen units come down. We\u2019ve seen refineries being repurposed to become bio refineries. And we live in a world where the policy, the stated policy of the U.S. government is to reduce demand for the products that refiners produce.\u201d<\/p>\n<p>Continuing further, Wirth said that the federal government\u2019s current policy is to reduce the demand for oil, making it \u201cvery hard\u201d in a company \u201cwhere investments have a payout period of a decade or more.\u201d<\/p>\n<p>Wirth also asked rhetorically, \u201cHow do you go to your board, how do you go to your shareholders and say \u2018we\u2019re going to spend billions of dollars on new capacity in a market that is, the policy is taking you the other direction.&#8217;\u201d<\/p>\n<p>According to data released by automotive club AAA, the <a href=\"https:\/\/gasprices.aaa.com\/\">average price for a gallon of gasoline<\/a> stands at $5.01 per gallon nationwide, with California leading the way at $6.40 per gallon.<\/p>\n<p>Gas prices were already climbing in 2021 amid higher demand and reduced supply. Last year, the Biden administration signed several executive orders to limit new oil drilling on federal lands, directing federal agencies to eliminate fossil fuel subsidies, and ending construction of the Keystone XL pipeline.<\/p>\n<p>The oil supply crunch has been exacerbated by\u00a0Western sanctions that were imposed on Russia, a major exporter, after its invasion of Ukraine.<\/p>\n<p>In response, the Biden administration has released\u00a0180 million barrels of oil from the Strategic Petroleum Reserve over a 6-month period starting in March.<\/p>\n<p>Wirth told the conference that the oil industry has \u201craised our Permian [Basin] production growth outlook to 15 percent this year,\u201d adding that the \u201cnarrative you hear that the industry is not growing production is not true. We are growing production and our industry is growing production.\u201d<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-jack-phillips\"><img decoding=\"async\" src=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2019\/06\/13\/Jack-Phillips.jpg\" alt=\"Jack Phillips\" \/><\/a><\/p>\n<div class=\"names\">\n<p>Breaking News Reporter<\/p>\n<\/div>\n<p>Follow<\/p>\n<\/div>\n<p>Jack Phillips is a breaking news reporter at The Epoch Times based in New York.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Chevron CEO Mike Wirth said in a recent interview that he does not believe another oil refinery will be built again in the United States, saying that government policies are<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1516190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1516190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1516190"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1516190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1516190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1516190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1516190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}