For all the MAGAt Trumpeteers and Lie-brul commies to post their wearisome screeds.
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The worsening refining bottleneck, especially in the U.S., was explained by Mike Wirth, the CEO of oil giant Chevron, who recently told Bloomberg TV that there's not enough refining capacity to meet the demand for gasoline and diesel because no new refinery will ever be built in the U.S. again.
Wirth explains his reason: "You're looking at committing capital ten years out, that will need decades to offer a return for shareholders, in a policy environment where governments around the world are saying, 'We don't want these products to be used in the future.'"
The crisis in refined products is because of the green energy transition forcing oil/gas companies, like Chevron and other majors, to not just shutter refineries but not invest and expand refinery capacity. This colossal failure has resulted in the national average for regular fuel approaching $5 a
Which just provide more evidence that the Democrats WANT this and arent really concerned about the high prices. It does sound like an opportunity for Mexico to build a nice big refinery right at the border.
"When governments fear the people, there is liberty. When the people fear the government, there is tyranny."
Animal wrote: ↑Thu Jun 09, 2022 3:10 pm
yeah, i'm sure that the price of oil being over $122 has nothing to do with any of this. Its the refineries.
Thats what I was thinking. Wouldnt a bottleneck at refineries create less demand, and thus lower prices?
if the refineries were the problem, then there would be too much crude and not enough gasoline. Which would lower crude prices.
I'm not saying there isn't a problem with a lack of refineries, because clearly there is and there has been for many years. Why else would someone build a pipeline from Canada to Texas? Its going to be hard to get companies to invest the incredible costs it takes to build a refinery if all of the talk is about doing away with petroleum. Which is going to ultimately bite us in the ass because this transition is going to take generations not years.
It would probably help if they didn't have to keep shutting down existing refineries.
And keep in mind that there were a couple of really big explosions at refineries in Texas and Louisianna a few months back.
"Poor kids are just as bright and just as talented as white kids. Wealthy kids, black kids, Asian kids... no I really mean it, but think how we think about it.” -- lifelong segregationist Joe Biden
God, I hate that guy. And I mean that literally. I absolutely despise him.
If an R wins in 2024 they should not only publicly and robustly fire him but whilst doing so point out what a giant dickwad he is.
"When governments fear the people, there is liberty. When the people fear the government, there is tyranny."
CHEEZY17 wrote: ↑Thu Jun 16, 2022 1:53 pm
God, I hate that guy. And I mean that literally. I absolutely despise him.
If an R wins in 2024 they should not only publicly and robustly fire him but whilst doing so point out what a giant dickwad he is.
Kerry is the type of Democrat Van Jones is talking about in the other thread
CHEEZY17 wrote: ↑Thu Jun 16, 2022 1:53 pm
God, I hate that guy. And I mean that literally. I absolutely despise him.
If an R wins in 2024 they should not only publicly and robustly fire him but whilst doing so point out what a giant dickwad he is.
Kerry is the type of Democrat Van Jones is talking about in the other thread
"When governments fear the people, there is liberty. When the people fear the government, there is tyranny."
During an interview aired on Friday’s edition of CNN’s “Situation Room,” Saudi Minister of State for Foreign Affairs Adel al-Jubeir, who was inside President Joe Biden’s meeting with Saudi Crown Prince Mohammed bin Salman, refused to commit to boosting oil production, denied Biden pressed them on the issue, and argued that “The problem of gasoline in the United States is more a function of the lack of refining capacity in the United States than a shortage of actual crude oil.”
gas in gulf countries is so cheap. there are no taxes on it and i presume they refine and produce their own supply. i bet they have a hard time understanding why it isn't the same in America.
During an interview aired on Friday’s edition of CNN’s “Situation Room,” Saudi Minister of State for Foreign Affairs Adel al-Jubeir, who was inside President Joe Biden’s meeting with Saudi Crown Prince Mohammed bin Salman, refused to commit to boosting oil production, denied Biden pressed them on the issue, and argued that “The problem of gasoline in the United States is more a function of the lack of refining capacity in the United States than a shortage of actual crude oil.”
Yep. Why in the world would companies invest in infrastructure when one party is fully committed to destroying them?