Chevron CEO Says There May Never Be a New Refinery Built in US

There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp.

“We haven’t had a refinery built in the United States since the 1970s,” Chief Executive Officer Mike Wirth said in an interview on Bloomberg TV. “My personal view is there will never be another new refinery built in the United States.”

The Biden administration has appealed to OPEC and the US shale producers to pump more crude to help lower gasoline prices this year. But even if oil prices were to fall, the US may ...