Chilly Climate for Oil Refiners

This article discusses the sharp decrease in demand for gasoline. Refineries are shutting down because refiners are convinced that even after we recover from the recession, demand is not expected to increase due to the increase in ethanol use and the availability of other alternative biofuels. Automobile fuel-efficiency standards are increasing as well with averages rising to 35.5 miles/gallon by 2016 from 25 miles/gallon today. The number of refineries in the U.S. has fell from 300 in 1982 to about 150 today showing that demand continues to decrease. It is suggested in the article that gasoline consumption peaked in 2007 at 9.7 million barrels a day and will not rise to that amount again. This unanticipated drop in demand of gasoline is not only an issue for the U.S., but for the entire world. This article relates to markets and sovereignty. Consumers are not demanding gasoline so markets are responding causing refineries to shut down. What will the shutting down of refineries lead to? Also, won't this be somewhat inefficient because the land will be ruined where these refineries once stood?