"Industry Insiders On Real Story Behind High Gas Prices: Structural Problems, Hostile Policies, And Inaction" - By Allen Zhong at Epoch Times via ZeroHedge

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EXCERPT:   ...most of the oil in the recent export surge is light sweet oil which is also known as “shale oil.” However, the refineries in the United States were designed to refine heavy crude oil, aka conventional oil, Senior Vice President of American Energy Alliance Dan Kish told The Epoch Times.

According to an analysis by the Dallas Federal Reserve, the United States exported on average 3 million barrels of mainly light sweet crude oil per day at the end of November 2021 and imported more than 6 million barrels of mostly heavier crude oils from Canada and other foreign suppliers each day.

The U.S. refiners don’t have the capacity to process the exported crude oil, the authors of the analysis said.

Even if the U.S. bans oil exports, which are mostly shale oil, it’s impossible for refineries to update their facilities to refine shale oil after decades of political hostility against the oil industry.

Updating the facilities means the refineries need to invest billions of dollars and get extra emission-related permits.

It’s an impossible task under the Biden administration, Kish said.

“They’ve made the fossil fuel business in North America the enemy of the people, that’s why the prices keep trending up,” he said....

https://www.zerohedge.com/political/industry-insiders-real-story-behind-high-gas-prices-structural-problems-hostile-policies

Industry Insiders On Real Story Behind High Gas Prices: Structural Problems, Hostile Policies, And Inaction

by Tyler Durden

Thursday, Oct 06, 2022 - 12:05 PM

Authored by Allen Zhong via The Epoch Times (emphasis ours),

High gas prices in America are caused by a mismatch between U.S. oil production and refining, bad policies or political hostility, and the Biden administration’s inaction, according to experts and oil industry insiders.

A view of the Chevron refinery in Richmond, Calif., on Nov. 17, 2021. (Justin Sullivan/Getty Images)

 

Inflation in the United States has been running high since March when the yearly Consumer Price Index (CPI) reached 8.5 percent, the highest level since 1981.

A dramatic increase in energy prices has drawn special attention.

Between May and August, energy prices rose between 20 percent to 40 percent year-over-year.

President Joe Biden and the Democrats have proposed different solutions to the high energy prices, including a windfall tax for oil companies, urging gas stations to cut prices, imposing an oil export ban, and allowing countries to buy Russian oil with a price cap.

However, oil industry insiders and experts said most of those proposed measures either will not work or won’t lower the gas prices in America permanently.

Michael Wirth, chairman and CEO of U.S. oil giant Chevron, rejected the idea of taxing oil companies’ profits.

“Windfall profits taxes have been tried before in this country. They didn’t achieve the goal that was desired. It is pretty basic that if you want more of something, you tend not to tax it. If you want less of something, you put taxes on it,” he said during an interview with CNN on Sept. 13.

Oil Export Ban Could Be Disastrous

As inflation soared, Democrats have been calling for the White House to impose an oil export ban. But experts and a refinery owner warned this will not cut gas prices and may bring disastrous results.

U.S. crude oil exports have been increasing since 2011, and decreasing oil imports during the same time period caused net crude oil imports to decrease.... [article continues]

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Let’s just end foreign oil in the US and you would see there is a market for that light oil and the US would still be FF independent. Not only that but the oil would come from private land. Most oil news is fake news by international FF Companies who do not care about US citizens. Glad I could straighten that out for you. We do have Republican political operatives glad to take a dollar from the Saudi, Russia, Venezuela and other various entities. Look, corruption is the human way, this is not new news.