Profits Likely Won’t Mean New Refineries

Don’t expect the oil industry to boost fuel production merely to deflect criticism from Congress about soaring prices and profits.

Energy executives and analysts insist that in spite of the supply crunch that has kept oil above $50 a barrel for much of the year, demand and prices are still prone to ups and downs, so the industry should not rush to drill wells and expand refineries just because it is flush with cash.
Yahoo! News