"...What we’re dealing with is a lack of refinery capacity.
The United States currently has the lowest number of functioning refineries capable of producing gasoline, diesel, and jet fuel that we’ve seen since 2016, largely as a result of government policies.
- ...The government continues to demand more “green energy” alternatives and demonizes the fossil fuel industry.
- Government incentives are given to solar and wind energy farms along with conversion to electric vehicles.
- Meanwhile, more states look to impose various forms of “carbon taxes” on the conventional energy industry, driving up costs.
- In response, a number of refineries have been converted to produce “biodiesel,” while others were simply shut down as they aged out.
...With demand expected to decline due to government mandates, investors would likely never make back the vast amounts of money it would cost to provide a short-term bandaid to the gas price situation..."
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