Wednesday, November 20, 2019

The US Oil Refining Industry Annotated Bibliography

The US Oil Refining Industry - Annotated Bibliography Example These problems can equally be attributed to utility deregulation. All these problems in the energy sector in the US have been argued to have stemmed from both the environmentalists and the federal government of the US. It is argued that they discouraged oil exploration by investors in the 1990s. The rising oil prices have been blamed on Organization of Petroleum Exporting Countries’ planners and the domestic refineries failure to do proper calculations . It is from this background information that the ensuing discussion will give an overview of how more refineries in the United States would affect the economy. The debate over the impacts of a growing number of refineries in the U.S on its economy is a very intricate one. It can be appropriately examined by putting into consideration the arguments that persons pursue. These would be the explanations that they offer in backing their claims as well as the evidence that they provide in support of those claims. Some contend that a growth in the number of refineries in the U.S would responsible for the inflation of the economy. This is because they reduce the rates of competition while at the same time contributing to the inflation of prices. There is equally an argument that a growth of refineries in a country increases the number of chemical substances released into the atmosphere. These chemical substances are potential harmful and they will lower the economic growth of a country. It is contended that a growth in the number of refineries will create job opportunities for the citizens of a country. The refineries will equally be a significant source of revenue to the government. The creations of job opportunities for the citizens as well as revenue for the government all have one thing in common. They improve the economic growth of a country. The growing concentration in the proprietorship of the refinery industry is decreasing competition and thus underwriting price inflation.

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