There hasn’t been a new oil refinery built in the USA since 1976. The rules and regulations along with the low returns prevalent in the industry have discouraged new facilities. Cushing, OK (population 8,371), which bills itself as the “Pipeline Crossroads of the World” is fighting to build the first new one in almost 30 years.
A town meeting last month was attended by about 100 people who endorsed the town facilitating the construction of the $2.5 billion facility that would have a $157 million payroll. Having studied and traveled extensively throughout OK in the past year, I am not surprised that OK is looking at building the 150th refinery in the USA.
You have to leverage your resources as a community. You can’t just wait for it to be thrust upon you.
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