SOURCE: Industrial Info Resources

October 29, 2007 07:01 ET

North America to Invest $34 Billion in New Crude Oil Refineries, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - October 29, 2007) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Marathon Petroleum Corporation's fuel refinery in Garyville, Louisiana, constructed in 1976, was the last one built in the United States. Since that time, no other fuel refinery has been built in the United States, with the exception of topping units, which have been constructed more recently. The reason is because profit margins were low before 2000. Since that time, the industry has experienced heavy profits leading to evaluations of refinery construction and modernizations of existing plants.

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