Marginal improvements


The US is under pressure to increase crude oil refining capacity. Due to historically low refining margins, the industry has been reluctant to invest in new refining plants. Even the high oil prices over the last few years and resultant healthy boost in refinery margins has not provided enough economic stimuli to lessen the uncertainty that margins will fall when new plants become operational in three to five years.

France has recently called for the US to up its refinery capacity, while bot