Alan Olson: "The only increase we see coming down the pike in increased refining capacity is in China. Refining capacity in Europe has dropped. In the United States it's dropped, but the Chinese are increasing refining capacity. And that is not for export."
Why are we turning to countries like Iran, Venezuela, and Saudi Arabia for oil when we could be turning to Montana, North Dakota, and Texas for oil? Plus, with oil prices skyrocketing, is production in the Bakken oil fields already ramping up due to price alone?