Perhaps the BEST B1G Forum anywhere, here at College Football Fan Site, CFB51!!!

Those refineries closed, or were repurposed.  They don't work any more for gasoline.

I think it's a real shortfall in refining capacity right now, amongst other things.

https://mobile.twitter.com/JavierBlas/status/1537152871569006593

"We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies. This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. production of oil during this period.

Globally, we’ve invested double what we’ve earned over the past five years -- $118 billion on new oil and gas supplies compared to net income of $55 billion. This is a reflection of the company’s long-term growth strategy, and our commitment to continuously invest to meet society’s demand for our products.

Specific to refining capacity in the U.S., we’ve been investing through the downturn to increase refining capacity to process U.S. light crude by about 250,000 barrels per day – the equivalent of adding a new medium-sized refinery. We kept investing even during the pandemic, when we lost more than $20 billion and had to borrow more than $30 billion to maintain investment to increase capacity to be ready for post-pandemic demand.

In the short term, the U.S. government could enact measures often used in emergencies following hurricanes or other supply disruptions -- such as waivers of Jones Act provisions and some fuel specifications to increase supplies. Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines."

This is NOT good.

https://www.wsj.com/articles/high-u-s-fuel-exports-are-contributing-to-5-a-gallon-gas-11655371801?st=3pelso35iusg59d&reflink=desktopwebshare_permalink
https://www.wsj.com/articles/high-u-s-fuel-exports-are-contributing-to-5-a-gallon-gas-11655371801?st=3pelso35iusg59d&reflink=desktopwebshare_permalink

Maybe lets not build a plant like this in areas the might be subject to flooding?

Baby formula production halted at Abbott's Michigan plant due to flooding after severe storms | Fox Business
Baby formula production halted at Abbott's Michigan plant due to flooding after severe storms | Fox Business

Dikes would solve that, and maybe a dam or three.

I don't think so if they level at this level, over $5.  Even if they dropped to $4 it would be an issue, though different folks would blame different folks, as usual.

good news