Apparently, according to oil-price.net, oil companies won't be building any new refineries as the ~20-year ammortisation means there won't be enough oil to refine in that timescale. No new refinery has been built in the US since 1976. Thats a pretty sobering
reality check even for those who believe the peak isn't yet reached..
It sounds like refinery design as a career is going the same way as horse whip designers before the automobile...roll on solar electricity futures hedged by weather derivatives..