15 Jun 2022 1:58 pm
FYI...Since 1998 (according to the U.S. Energy Information Administration) only 5 refineries have been built. All of them were built in Texas (still want us to secede) with a COMBINED refining capacity of 190.75 barrels of crude per day. Keep in mind, according to the Office of Energy Efficiency & Renewable Energy, a barrel of oil only produces 19.36 gallons of gasoline...that means, in the last 23+ years our production capacity for gasoline (all grades) has only increased by (at a MAXIMUM) just under 3,700 gallons a day or 1.3 million gallons a year (assuming none of the plants need to a "shut down" for routine maintenance.
Wonder how much DEMAND has increased in the last two decades?
Wonder how much DEMAND has increased in the last two decades?