Unless you are a prepper living off-grid in the Alaskan wilderness, you will have noticed that fuel is costing more than it has ever done before. Round the world people are keen to blame their enemy of choice, in the US, it's because of "Putinflation" and in the UK it's "because of Brexit". Elsewhere it's the profiteering oil companies. In reality it's none of these, it turns out to be caused by what David Cameron memorably called "green crap".
As the CEO of Chevron explains, no-one is building refineries any more. Refineries are hugely expensive and the Alarmists have been saying for years that fossil fuels are on the way out, with governments pledging to ban the sale of new petrol and diesel cars and natural gas boilers, so why should any company invest in a new refinery? This also means that the refineries we do have are old, 50 years plus in the US, probably the same in the UK. As the refineries wear out, they have been being shut down, leading to a shortage of refining capacity that has reared it's ugly head before. As capacity decreases, demand, unfortunately, has not decreased at the same rate, leading to the inevitable result that the cost of refined fuel has increased faster than the cost of crude oil.
Never mind, let's blame it on Uncle Vlad, eh?
Debate Magazine
