The Wall Street Journal reports Trump told oil executives at a White House meeting to build more refineries capable of producing fuels, but industry sources say convincing companies will be difficult. New refineries require multi‑bln dollars of capex and typically take 3–5 years to build; oil sector participants expect energy markets to rebalance well before any plants come online. Energy Aspects analyst Robert Campbell said no one will rush into a multi‑bn dollar build based on a few months of

The Wall Street Journal reports Trump told oil executives at a White House meeting to build more refineries capable of producing fuels, but industry sources say convincing companies will be difficult. New refineries require multi‑bln dollars of capex and typically take 3–5 years to build; oil sector participants expect energy markets to rebalance well before any plants come online. Energy Aspects analyst Robert Campbell said no one will rush into a multi‑bn dollar build based on a few months of record margins. Developers also face arduous federal, state and local permitting processes. Meanwhile long‑run gasoline demand is expected to decline as EV uptake rises and engine efficiency improves.