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In reply to the discussion: California gas prices headed up again... [View all]alwaysinasnit
(5,066 posts)18. Thank you Professor. To continue the info you provided, I found this article interesting.
https://www.npr.org/2022/06/26/1107265390/refinery-shortage-high-gas-prices-russia
snip...
Refining capacity in the U.S. is about a million barrels a day below what it was prior to the pandemic. That's left the country unable to meet its fuel needs as more people are commuting, traveling and driving as they emerge from the throes of the pandemic.
So, where did all the refineries go?
Some refineries shuttered during the pandemic-induced recession in 2020, when demand for gasoline took a nosedive. Not all of those refineries have come back online. The U.S. had five fewer refineries at the beginning of this year that at the beginning of 2020.
When the pandemic hit and demand for oil evaporated during the recession, refineries took a big financial hit when the price of gasoline plummeted. Some refiners threw in the towel. They said the numbers just didn't work, and closed up shop.
"When you're losing money on doing it, what do you do? You stop making it. And that's when you shut down refineries," says Denton Cinquegrana, chief oil analyst at Oil Price Information Service.
snip...
Refining capacity in the U.S. is about a million barrels a day below what it was prior to the pandemic. That's left the country unable to meet its fuel needs as more people are commuting, traveling and driving as they emerge from the throes of the pandemic.
So, where did all the refineries go?
Some refineries shuttered during the pandemic-induced recession in 2020, when demand for gasoline took a nosedive. Not all of those refineries have come back online. The U.S. had five fewer refineries at the beginning of this year that at the beginning of 2020.
When the pandemic hit and demand for oil evaporated during the recession, refineries took a big financial hit when the price of gasoline plummeted. Some refiners threw in the towel. They said the numbers just didn't work, and closed up shop.
"When you're losing money on doing it, what do you do? You stop making it. And that's when you shut down refineries," says Denton Cinquegrana, chief oil analyst at Oil Price Information Service.
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I am on the Tempe/Mesa border and it got down to 3.49 maybe 3 or 4 weeks ago.
former9thward
Sep 2022
#9
Until public transportation is plentiful in ALL areas, you will see driving
jimfields33
Sep 2022
#11
Thank you Professor. To continue the info you provided, I found this article interesting.
alwaysinasnit
Sep 2022
#18
We're all getting hosed in CA. Oil dropped below $80 a barrel this week. Gas taxes don't account..
kysrsoze
Sep 2022
#7
Hmm, almost like they want people pissed off enough to vote against the Democrats?
bluestarone
Sep 2022
#19