It's not an issue of oil availability, it's an issue of refining it. Numerous smaller and older refineries have shut down during the last two years and oil companies don't want to build new ones or repair and restart old ones. That is why Valero, the largest US refiner, is reaping record profits never seen before.
It's not an issue of oil availability, it's an issue of refining it. Numerous smaller and older refineries have shut down during the last two years and oil companies don't want to build new ones or repair and restart old ones. That is why Valero, the largest US refiner, is reaping record profits never seen before.
It doesn't help the value of the USD has lost virtually all its value in 12 months. Sure they may have made large profits, but when we compare the value of the profits now vs before, the actual value is way less
It doesn't help the value of the USD has lost virtually all its value in 12 months. Sure they may have made large profits, but when we compare the value of the profits now vs before, the actual value is way less
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