Quote:
Originally Posted by Cos270
Actually, they'll probably be buying oil and natural gas from the US. As the US continues to pay artificially high gas prices because of the policies and messages put out by the current administration over the past two years. It's a totally unmitigated cluster fueled by virtue signaling, greed and control.
|
We are paying high gas prices in part because refinery capacity continues to decline and refiners refuse to invest in any new facilities.
https://oilprice.com/Latest-Energy-N...ecade-Low.html
Quote:
|
Chevron’s CEO Mike Worth said earlier this month that he doesn’t see any relief to the refining capacity issue in sight, even going so far as to suggest that the United States may not see any new refineries built, ever, given their long lead times and lengthy ROI combined with the uncertainty of the future of fossil fuels in general given climate concerns.
|
The largest refinery on the east coast, PES, blew up in 2019 and is now shuttered.
https://www.forbes.com/sites/andysto...h=b6df03b7ef7d