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Originally Posted by DaddyHalbucks
Agree, the $100 proposal is ridiculous.
My understanding is the problem is not a shortage of oil, but a shortage of oil refineries. The refineries in the US are all 35-40 years old and running at 100% capacity. How come no one is talking about this?
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This is correct. It's not a problem of oil on the market. The problem's the speculators, and refineries. They are all (supposedly) max. capacity, and they have not, nor will, invest in making new ones. Claiming, the old "noone wants it in their backyard".
