posted on Apr, 29 2010 @ 11:16 AM
Environmental regulations. To actually open an oil refinery, you have to overcome very stiff regulatory and environmental regulations. And a lot of
people like the idea of more oil refineries in the U.S., as long as they don't land in their backyard - Too much pollution.
Besides, the less oil, the higher the prices. Best to keep the oil in the ground to make the most amount of money. If oil were to become plentiful,
the oil companies couldn't make as much money. Gotta keep oil scarce. : )