Detroit News
The good news
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The good news
The bad newsquote:
DUBAI, United Arab Emirates (AP) -- Oil companies and other investors are spending a collective $100 billion on new oil refineries that could alleviate the current bottleneck in refining capacity - and eventually translate into a small cut in the price of gasoline, a top project financier said here Sunday.
quote:
But most new refineries are being built outside the United States - mainly due to opposition to refinery construction by local communities near proposed sites. That means Americans may pay as much as $1 per barrel more to import a larger proportion of their fuel as finished gasoline and diesel fuel in coming years, Rathvon said.