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[deleted] t1_iwsqu9s wrote

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SolomonG t1_iwtp5fb wrote

This whole post is just garbage but I'm going to respond to this part because it is particularly terrible misinformation.

> EV law mandates caused five or more oil refineries to close down on their own free will.

Reduced demand during covid led to oil companies cutting costs by closing some US refineries.

Now that demand has returned, they have still not reopened those refineries. The US is currently refining at capacity. Meanwhile these companies are selling more oil to Europe than ever before because they can charge higher prices, further reducing the supply available domestically.

So American consumers are paying inflated prices while Exxon Mobil just had it's best quarter ever.

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