Rastaman, I agree that refinery capacity will increase when it must. But right now, it appears that it may not have to, partly because of the supply and demand factor that you alluded to. The Shell story pointed out that companies are facing reduced demand in the face of soaring prices, and that could translate to reduced requirement for new refining capacity.

If it did, Shell would not have scuttled the Sarnia project because it could not have afforded to do so. They said in their news release that instead they were going to pursue existing capacity in BC and the Western US instead

I am no expert, don't listen to me. Instead, look at what Shell just did.

That's it for me on this subject, back to nickel rather than oil.

Cheers,

Bluenoser