Thursday, June 5, 2008

First new oil refinery in 32 years?

It looks as though the small city of Elk Point in the far southeast corner of South Dakota is making a push to be home to the first new oil refinery in the United States in over three decades. From the Sioux City Journal,

As midnight approached, they popped the champagne corks, celebrating a hard-fought victory that keeps alive the county's chances of landing the nation's first all-new oil refinery in 32 years.

By a solid 58 percent to 42 percent margin, county voters approved Hyperion's request to rezone 3,292 acres of farm land for a new classification, Energy Center Planned Development.

This seems like big news, no?

For some background on oil refineries and the economics of refineries, albeit from a business perspective this Slate article is a decent start.

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