Q, all you say is true. You may have seen my post from several days ago on another 'Cat thread.

Summarizing:
A friend of mine was a refinery engineer for Fleur Corp. for about 25 years beginning in mid-'60s. His early projects were in the States, but increasingly he was sent overseas for projects.

Getting environmental and other approvals for projects in the States had become increasingly difficult. He changed careers.

The reason refineable oil is not available in the states--which could make refineries viable--is that it is near impossible to drill for it for the same reasons as above.

Petroleum geologists know where the oil is, it really is a matter of getting the national will to get it.

As you say, it takes time to develop these projects, so the time to start is now.