Yeah.....one of the little perks since my interest in following the stock market years ago, is that you follow releases that are made from big companies (Oil and Gas in this instance). And not just the big names that the average person thinks has a lock on the American oil industry. But smaller ones too. Smaller is also a relevant term. The "smaller cap" companies are still worth into the 100's of millions and well into the billions.
Anyway.......we've got oil and nat gas ALL over this country. We just lack the infrastructure to move it from the area that they find it, to the "aging" refineries. The companies in this country are finding the stuff all over the place using modern drilling technologies.........that really aren't that modern. Just the command and control systems are "that" much better than they used to be. You figure they've found that huge area in the Bakken fields in the Dakota's (a couple years ago actually)......the Eagleford fields in Texas (yes....there's still oil and gas in Texas after all these years)......the Marcellus fields in Pennsylvania..............well, you get the picture. The list keeps growing. Those are just a few of the largest reserves that have been found.
And Shepp is right.......we haven't built a new rifinery in this country since the 70's. That's a cryin-ass shame. Considering all the money and jobs that all of that work could bring to those areas. And, without saying, the newer equipment is alot more efficient. All of our current refineries are going through a long, slow re-fit at all times. They don't have a choice. If you can't build new.......you have to keep re-fitting older facilities.
OK.......enough of my soapbox.