In Texas recently there was a grand opening for what is now the largest refinery in the U.S. Shell and Saudi Arabia's national oil company, Saudi Aramco, have more than doubled the capacity of their Port Arthur refinery.
The refinery business has been going through a tough period in recent years. Americans are buying less gasoline and other petroleum products — about 10 percent less than in 2005, according to the U.S. Energy Information Administration.
Republican presidential candidate Mitt Romney picked up two big endorsements this week from GOP foreign policy luminaries: former Secretaries of State Condoleezza Rice and George Shultz.
At this point in the presidential race, endorsements are pretty routine. But these particular endorsements are important, since Romney has encountered some skepticism from foreign policy experts in his party.
Some Republicans expected the long, bloody wars in Iraq and Afghanistan to alter their party's traditional interventionist view. Those Republicans are disappointed in Romney.