06.21.2022

Higher Gas Prices Are Only the Beginning

“The last major refinery to be built in the US was in 1977. And by major, I mean more than 100,000 barrels a day. There’s been some small ones put in, and some specialty ones here and there. But by and large, because of environmental pressure, the US has not made a new refinery at scale in 45 years, which is pretty incredible.”

Originally published here at the Mises Institute on 16 June 2022.

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