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Maybe because the refineries are maxed out? Pumping more oil isn't going to help in the short term. And the oil companies aren't risking more (expensive) refin
by joezydeco 4y ago
Maybe because the refineries are maxed out? Pumping more oil isn't going to help in the short term.
And the oil companies aren't risking more (expensive) refineries long-term when the world is moving off of oil.
- zthrowaway 4y agoHow are they maxed out? I don't think that's the case at all, neither can I find any substantial evidence to back that claim. There's an obvious change between Trump and Biden. The latter canceling oil and gas leases since getting into office in the name of clean energy.
- joezydeco 4y agohttps://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/061022-feature-us-drivers-in-for-expensive-summer-as-refiners-grapple-with-high-demand https://www.spglobal.com/commodityinsights/en/market-insight...