patrick.net

DooDahMan says

Take out one or two majors on the Gulf Coast

It's only going to take one.

Energy companies may not want to increase as much production in the USA since they are trying to keep prices high enough and make as much profit now, given the Democrat Party energy policies.

The companies figure in 5 to 10 years that the oil and natural gas industry will be under much more government regulations and more political pressure.

So they figure to make as much money now while it is still profitable to be in the oil and natural gas business.

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And adding refining capacity is not easy, especially in the current environment, Wirth (Chevron's CEO) said.

“You’re looking at committing capital 10 years out, that will need decades to offer a return for shareholders, in a policy environment where governments around the world are saying: we don’t want these products,” he said. “We’re receiving mixed signals in these policy discussions.”

https://www.bloomberg.com/news/articles/2022-06-03/chevron-ceo-warns-not-to-count-on-new-us-oil-refinery