Chevron CEO Says No New Refineries In U.S—Ever ...Middle East

Chevron CEO Mike Wirth’s view of U.S. refineries is that there will never be another new refinery building in the United States. High prices at the pump have triggered a host of discussions around where the market constraints are, but current refinery utilization in the United States—which is at more than 90%--combined with low product inventories and sky-high refining margins, indicates that the bottleneck to getting more gasoline to market is the refining segment—not pumping crude. But according to Wirth, there may be no relief…

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