Originally Posted by
Trip7
Refinery capacity has decreased leading to higher crack spreads but pretty minor in the grand scheme of oil supply constraints
When we’re taking fuel prices, it isn’t. There’s articles from every corner of the news world discussing this problem in great length in 2022 when gas prices spiked.
We haven’t built a new refinery in the US since the 1970s. We can pump all the crude we want out of the ground, if we can’t turn it into something useful, it’s pointless.