[thackney]

Refining capacity is still at historic lows in the US

False. It has been slowly climbing for decades.

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MOCLEUS2&f=M

[Dusty Road]

That and their profit margin pretty much stays the same. They’re the bookie’s in the oil business, they profit no mater what the crude price is.