Quote:
Originally Posted by AdolfOliverBush
Sincere question: If refineries are already at full capacity, when oil production is being intentionally limited by oil companies, does that mean increased oil production wouldn't help lower gas prices thanks to that bottleneck?
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Domestic oil production is currently at historical highs. Could be higher if we were “drill baby drill” mode. Those days are never coming back tho. Too many companies got crushed. We don’t use a lot of that domestic crude anyways. Most of our refineries are made for heavy “sour” crude (Saudi, Canada, Venezuela ect). They aren’t capable of refining light and heavy. We were at same refining rates in most recent years, but much more crude on the market.