The US Can’t Make Enough Fuel and There’s No Fix in Sight
(Bloomberg) — From record gasoline prices to higher airfares to fears of diesel rationing ahead, America’s runaway energy market is disquieting both US travelers and the wider economy. But the chief driver isn’t high crude prices or even the rebound in demand: It’s simply too few refineries turning oil into usable fuels.
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More than 1 million barrels a day of the country’s oil refining capacity — or about 5% overall — has shut since the beginning of the…