Executives in the energy sector are now alerting the federal government that oil refinery operations at closed facilities will not be reignited indefinitely.
The one interesting thing that came out of it, too, was there was consideration for the ability to restart refining capacity that had been shut down, and I think the general sentiment was that wasn’t going to happen.
Valero Chief Executive Joe Gorder told U.S. Energy Secretary Jennifer Graholm last week
This announcement is the latest canary in the coalmine that the energy shortages in the U.S. are only going to persist, as the winter season continues to approach.
The U.S. are dealing with an impending diesel shortage, that, if it is as serious as it is being reported as, would bring the country to a standstill – which is being compounded upon with oil refineries also catching on fire and exploding in recent months.
OilPrice.Com has more details on this recent announcement:
Limited U.S. refinery capacity—and perhaps more critically, refinery capacity in specific U.S. geographic areas, known as PADDs—has spared worry in the United States over high gasoline prices and energy security.
US refinery run rates were north of 90% for much of the summer, according to the EIA’s Weekly Petroleum Status Report.
Shuttered refineries unlikely to start back up are the latest nail in the U.S. refinery coffin. In June, Chevron CEO Mike Wirth posited that there would never be another new refinery built in the United States.
Building a refinery is a multi-billion dollar investment. It may take a decade. We haven’t had a refinery built in the United States since the 1970s. My personal view is that there will never be another refinery built in the United States.
Wirth said at the time.
Oil and gas companies would have to weigh the benefits of committing capital ten years out that will need decades to offer a return to shareholders “in a policy environment where governments around the world are saying ‘we don’t want these products to be used in the future,’” Wirth added.
Refinery utilization in the United States for the week ending October 14 was 89.5% of their operable capacity, the most recent EIA data shows.
AUTHOR COMMENTARY
It should not have to tell you that the energy crisis in America, just like Europe, is going to be spiraling out of control, by design. This is what “Build Back Better” looks like: they have to destroy it before they can implement their new systems.
It’s too late for repentance: the Lord is determined to teardown this country and destroy most of the inhabitants.
[7] At what instant I shall speak concerning a nation, and concerning a kingdom, to pluck up, and to pull down, and to destroy it; [8] If that nation, against whom I have pronounced, turn from their evil, I will repent of the evil that I thought to do unto them. [9] And at what instant I shall speak concerning a nation, and concerning a kingdom, to build and to plant it; [10] If it do evil in my sight, that it obey not my voice, then I will repent of the good, wherewith I said I would benefit them.Jeremiah 18:7-10
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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America is getting ready to get slammed all to bupkis and it is well deserved and earned.
I am seeing justice unfolding as are everybody else and the rest of us.
It’s too late for the nation to repent, but individuals, you and me can still repent; but the nation, not a chance!
Meanwhile, most of America is saying “it’s football season, yeah the cowboys are gonna play against the Patriots (or whatever I don’t know and I couldn’t care less,)”
Yeah, bread and circuses. Well let’s see if the NFL can help when America finally goes kaput!
“Bye, bye Miss American Pie.”
This is what happens when a nation bites the hand that feeds them.