Oil Prices

I was reading up on some oil information and came across information on oil refineries. There has been 0 refineries build since 1976. This is because there is just no need to build more refineries. The lack of oil now, and the fact that the refineries would cost too much to build. It would be pointless to build the refineries with the lack of oil right now. And after the 700 billion dollars that was given out, it is foolish to spend a mass amount of money to build a refinery. The number of barrels produced a day has dropped from 17.9 million a day to 17.4 barrels a day. If the number was rising then it would be great to expand, but since it has done nothing but decline for the past few years, it's pointless to even consider building more refineries.