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semi_infinite

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semi_infinite

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Wednesday, 06/15/2022 3:55:01 PM

Wednesday, June 15, 2022 3:55:01 PM

Post# of 29342
Most here doesn't seem to get it RE oil crunch. Listen to CVX CEO when he says we are max refining capacity forever domestically. That's where the crunch is and will be. Downstream margins will be fat and there is no economic incentive for majors to build. Doesn't matter who is in the WhiteHouse or Congress. 2008 oil prices were higher in 2008 and gasoline prices never touched current levels. Why?

Also regarding domestic oil production being kneecapped - read what I wrote back in March/April 2020 when Russia and SA met and SA subsequently dumped oil into tanker market at $10/BBL. Karma is a bitch.
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