Oil refineries are making a fortune, but that’s not stopping them from closing

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13 thoughts on “Oil refineries are making a fortune, but that’s not stopping them from closing

    1. Amen. Just like the Afghanistan withdrawal, the White House makes curt decisions with zero planning or thought of a consequence. An executive order on Day 1 in the White House declaring war on fossil fuels is the main culprit of our energy crisis. Why would any intelligent business invest further in a sector that the government has declared war on??

      Joementia and his minions have no clue how to run this country. It’s damn scary. Elections have consequences. The next 2.5 years are going to be brutal for America.

    2. Having worked for a power company, they have been investing heavily in green energy for more than decade because investors demand it. You can’t even borrow money for fossil fuel project. I am pretty sure Joe Biden was not telling these guys what to do 10 years ago.

      However it was Republicans that pushed through a bill that did end the ban on the export of refined fuels some 10 years ago. We are starting to pay gas prices similar to those in Europe because Republicans want less regulation.

    3. Dan M. – Exporting oil was an Obama policy decision. Obama made pro energy choices – including nuclear, oil and gas. The only anti-oil move he made was cancelling Keystone XL at the end of his term. The light sweet oil that drillers export abroad is not the type that our advanced gulf coast refineries need. They were made to refine lower-cost heavy sour blends from Venz, Mexico and Canada. This lower cost crude helps keep our gas prices low in most of the interior US. (There are no advanced refineries located in the NE and WC US where they use imported higher-cost light sweet crude taken from tankers.) The dem majority in congress during Trump admin and now Biden have blocked attempts to build more crude (and nat gas) pipeline capacity to move lower-cost US and Canadian oil and gas to NE and WC US where it is needed.

  1. Please contact the refineries and ask them why they closed.
    Answer: loss of permits from Biden EPA
    Ask why they can’t build more.
    Answer: can’t get Federal and Local permits from Biden EPA

    1. Having worked for a power company, they have been investing heavily in green energy for more than decade because investors demand it. You can’t even borrow money for fossil fuel project. I am pretty sure Joe Biden was not telling these guys what to do 10 years ago.

      However it was Republicans that pushed through a bill that did end the ban on the export of refined fuels some 10 years ago. We are starting to pay gas prices similar to those in Europe because Republicans want less regulation.

    2. Dan M.

      It’s not just Biden, but the Biden Administration and the Democratic Party
      along with their climate change and environmental activists that
      declared war on the fossil fuel industry.

      The change over from fossil fuels to renewables by the utility companies was
      because of the Dem Party and their activists demanding the change.

  2. The current administration is devoted to eliminating fossil fuels and will force this regressed standard of living on everyone if they can, under the guise of the “saving the planet” propaganda. I hope voters are wise enough to see through this facade and make intelligent choices to preserve our freedoms.

    1. Having worked for a power company, they have been investing heavily in green energy for more than decade because investors demand it. You can’t even borrow money for fossil fuel project. I am pretty sure Joe Biden was not telling these guys what to do 10 years ago.

      However it was Republicans that pushed through a bill that did end the ban on the export of refined fuels some 10 years ago. We are starting to pay gas prices similar to those in Europe because Republicans want less regulation.

  3. Of Course it’s the oil companies fault. 1st they are a for profit business. 2nd They should keep the refineries going even though they are being forced out of business. Lastly planning for the future is just plan wrong.

  4. What happens when the grid can’t handle all the electric cars and the refineries are gone? The price of horses and mules will skyrocket.

    1. I assume that we would do what we’ve always done: scale up. The power grid has been in a perpetual state of change since it was first established, adding capacity where required and becoming more sophisticated. There isn’t going to be an overnight adoption of EVs, it’s going to take decades. The grid suddenly becoming overloaded because of overnight charging of EVs (when there is already a ton of excess capacity) isn’t going to be an issue. What is going to be an issue is air conditioning demand as we experience more and more 90+ degree days.

  5. Picture the volume of cars, SUV’s and Semi Trucks on any major interstate. Now project yourself 10 years or so into the future. Where in the world do people think there will be enough high capacity EV chargers to keep everyone moving?

    Should the US do what it can to wean somewhat off gas and diesel? Sure

    Thinking that this country can do it at the costs tk our economy when others such as China and India pollute as much or more is just appeasing the vocal minority at everyone else’s expense.

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