DennyT wrote:
Bullsh@t
I have posted numerous. Links attesting to refineries closing and why and no one repeat not one has been supplied a single source supporting the lie they have closed for lack of product( crude oil) .- NOT ONE !!
By the the t***h is not partisan!!
That answer was not meant for you.
BUT
I will say:
1. Demand for gasoline, diesel (and soon heating oil) is still peaking.
2. There is more oil flowing through more pipelines to more refineries than ever before. Also more oil being supplied by truck and rail to gathering-points, which is then being moved via pipelines to refineries.
3. Refineries are and have been closing. The avowed reasons are due to age, upkeep-costs, and, lack-of-demand for product(s). I could see that decline in demand leading to an “idling” of refineries—but not shutdowns.
4. President FJ Biden has requested oil companies and refineries to produce even more fuel products — which several are currently doing. This even if Biden has not requested private investment in any new refineries.
5. Even with the refineries (still in operation) producing at maximum levels of output, DEMAND is still outstripping supply. Until demand drops, there appears little chance of a decrease in the costs of fuels.
6. The current investment requirement to either re-start a shuttered refinery OR to construct a new refinery is a large expense, and CANNOT be done in a really short time span.
7. Oil and refinery-operating companies have been told by government direction, that oil exploration, drilling and production are going to be a thing-of-the-past, as the U.S. is going down the path of eliminating oil and gas dependence in favor of “environmentally friendly” or “renewable” energy sources. (Sources without a proven reliable production track-record).
8. Any increase in crop-derived fuels (gasahol/cornahol) will only have adverse effects on food supplies, either for human or animal consumption. In addition, vegetable-derived fuels require more time, fuel, and energy than an equivalent amount of fuel derived from refining crude oil. Then there is the problem of distribution: I am unaware of any alcohol-delivery pipelines. So everything has to be shipped by train or truck — which requires more diesel fuel — which has to come from oil at refineries. Another set of ‘unintended and unforeseen’ consequences.
CONCLUSION: We are in a mess! There is no quick-fix solution. Until demand drops, prices will remain high. Politicians do not have an answer — or much of a clue.