$TRUMP
🚨🇺🇸 The White House is weighing wartime powers to expand American oil refining, a tool never used for this before...
Two sources tell Reuters the Defense Production Act came up when Trump met nearly a dozen refiners, with officials asking how federal support could add capacity.
The executives pushed back on building anything new, saying the money should make existing plants more efficient or expand them, since a new refinery costs far more and takes years.
No decisions yet. It builds on an April determination authorizing the act for petroleum production, refining and logistics.
The catch is in the utilization number. American refiners are running at 98%, which means there is almost nothing left to unlock.
Diesel just crossed $6 for the first time, gas sits above $4, and neither is a refining problem.
It is crude supply, with Hormuz at nine ships on Thursday, the Saudi pipeline shut after drones from Iraq, and Bab al-Mandeb in Houthi hands.
The one new plant on the table sits at the Port of Brownsville, 168,000 barrels a day, the first American refinery in nearly 50 years.
Source: Reuters
#Crypto_Jobs🎯 #bnb #worldnews
🚨🇺🇸 The White House is weighing wartime powers to expand American oil refining, a tool never used for this before...
Two sources tell Reuters the Defense Production Act came up when Trump met nearly a dozen refiners, with officials asking how federal support could add capacity.
The executives pushed back on building anything new, saying the money should make existing plants more efficient or expand them, since a new refinery costs far more and takes years.
No decisions yet. It builds on an April determination authorizing the act for petroleum production, refining and logistics.
The catch is in the utilization number. American refiners are running at 98%, which means there is almost nothing left to unlock.
Diesel just crossed $6 for the first time, gas sits above $4, and neither is a refining problem.
It is crude supply, with Hormuz at nine ships on Thursday, the Saudi pipeline shut after drones from Iraq, and Bab al-Mandeb in Houthi hands.
The one new plant on the table sits at the Port of Brownsville, 168,000 barrels a day, the first American refinery in nearly 50 years.
Source: Reuters
#Crypto_Jobs🎯 #bnb #worldnews
