Just another story, that should remind us of how fragile our import dependence really is. I hope the situation changes one day, but I doubt it will. Will we ever learn? I used to joke with family and friends that "if China ever closed down, what will we do?" I hoped I'd never see the day, but here we are.
We have an energy crisis/inflation issue and do they do anything to increase supply to provide relief at the pump? No, they wave tariffs on solar panels because we all know that is going to solve the pain at the pump. (sarcasm) They do not care about us. They only care about shoving ideology and "green policies" down everyone's throat. Forget the whole solar panels saving the planet thing for a second, but why not do what you can to increase production domestically rather than give the money to a communist regime? There is no logic to anything.
Fuel is literally affecting the cost of everything at the minimum because the price of shipping has doubled. Until we tackle the root of the issue, nothing will get better.
The "root of the issue" is not capacity. America has as much extraction, transportation, and refining capacity now as it ever has. The U.S. Oil Industry has chosen to adjust production levels according to demand, but capacity has not been lost, only throttled.
The root cause of today's high gas and oil prices is the failed policy of Energy Independence. This policy removed competition from the U.S. oil market, so that U.S. producers can charge any price they want. U.S. oil companies are raising prices at the pump in order to keep their topline revenues growing in spite of reduced demand, first due to the pandemic, and now, even though demand has kept growing, prices continue to rise, so that U.S. oil companies can keep their profit growth curves positive.
No one has 'shuttered' any extraction or refining capacity except the U.S. producers themselves, to adjust to reduced demand during the pandemic. Reducing operational costs allowed them to maintain profits in spite of declining demand by increasing prices. Now, with demand increasing, they can bring capacity online, but prices continue to rise - why do you suppose that is? Because, without competition from foreign suppliers, U.S. oil companies are free to charge whatever they want.
I don't know where you got your un-informed information from but mine was directly from the API and they ought to know what facilities have been shuttered, what hasn't and how difficult it is to re-start those facilities ( hint - very).
Profound thanks, AudioByCarmine. A little general historical overview helps keep automotive developments in perspective. Always comical when those like Dons-Coupe use code speak to foment bigotry, xenophobia, us/them division, but are the first to whine about such forums as this not being the place for "politics."
Anyone with a grasp of motoring history knows there is no such divide.
Perhaps Dons Coupe would like to run for office, see if he can better manage the world's fifth biggest economy (California), or a sprawling, increasingly diverse realm like Quebec, instead of sniping at those putting it on the line, day in, day out, surrendering their private lives; trying against all odds. Our advice to such Monday morning quarterbacks remains, "If you don't like the news, make some of your own."
Thanks again, sir.