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Originally Posted by chris719
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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.
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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
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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.
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The largest refinery on the east coast, PES, blew up in 2019 and is now shuttered.
https://www.forbes.com/sites/andysto...h=b6df03b7ef7d |
Refineries pay Rin taxes that are 100's of millions of dollars a quarter. The new regime killed as much refining as possible when they took over. Now we rely on other countries and they don't
Give a shit about our prices. Lol. Pandemic also crushed the refineries. Did they get bail out? Not a fucking penny. Like I posted earlier. We are now opening up units that were shut down to make more diesel, jet fuel and reg gasoline. It's comical how we actually do certain things. The government is funding these projects yet they go on TV and scream and cry about it. 🤥🤥