Mountain_Fig_9253 t1_iwp4rlg wrote
Reply to comment by Osxachre in 4 giant offshore terminals proposed in Texas would increase US oil export capacity by 6.5 million bpd. This July US oil exports hit their record monthly high: 3.8 million bpd by Dylan-Baddour
The issue with diesel fuel is refining. Back in 2020 Trump negotiated a historic production cut with the US and OPEC+ that extended out to 2022. After that production cut was finalized a number of east coast diesel refineries shut down permanently. The ones remaining are running at 103% of capacity and there is no spare capacity to bring on line.
Refineries historically have been the money losing part of the oil and gas system so there isn’t much financial incentive to build new ones. It’s a systemic infrastructure issue, not a supply issue.
Osxachre t1_iwpw0cl wrote
You just described it exactly. They need to start them up again, even so far as to give them incentives, IMO.
Mountain_Fig_9253 t1_iwqqn8h wrote
Now you are talking socialism.
I agree, they should but my lord would the right explode in furious anger.
Osxachre t1_iwqvqc3 wrote
The price of diesel would drop and that would help inflation.
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