Page 71 - Refining Capacity News Today

All. the price of a barrel of oil goes up, it doesnt take much time for the price at the pump to go up. so lets be honest with one another. my message is simple. to the companies running gas stations and setting those prices at the pump, this is a time of war, global peril, ukraine, these are not normal times. bring down the price you are charging at the pump to reflect the cost you are paying for the product. do it now. do it today. your customers, the american people, they need relief now. so ...

Use their profits to increase refining capacity of than buy back their own stock full of gas stations that pass along, the decrease in oil prices, to lower prices at the pump. together these actions could help drop the price at the pump by up to $1 a gallon or more. it doesnt reduce all the pain but it will be a big help. a big help, says the us resident. a big help, says the us president. rianna croxford joins me now from washington. president biden has a big oilform two firms in his side. i wo...

Profits to increase refining capacity rather than buy back their own stock. gas stations have passed along the decree, not the decree, but to decrease oil prices to lower prices at the pump and together these actions could help drop the price at the pump by up to $1 a gallon or more. it doesnt reduce all the pain, but it would be a big help. im doing my part. i want the congress, states and the industry to do their part as well. and lets remember how we got here. putin invaded ukraine. putin inv...

Youve done more refining capacity, but what more can you do is the right thing to ask a president specifically after they pulled down 800,000 barrels per day in 2020. >> martha: they were trying to adjust for the lack of what was needed out there because we were in a complete lock down in the economy. so to ramp it back up and -- >> they made a decision that was not as good for ensuring that we have oil prices in this country. were asking them to -- >> martha: i understand -- >> no more than wha...

Profits to increase refining capacity rather than buy back their own stock. gas stations to pass along the decree -- excuse me, not the -- to decrease in oil prices to lower prices at the pump. and together these actions could help drop the price at the pump by up to $1 a gallon or more. it doesnt reduce all the pain, but it would be a big help. im doing my part. i want the congress, states, and industry to do their part, as well. and lets remember how we got here. putin invaded ukraine. putin i...

Environment. it is not just this, but there are some that believe that maybe it is not just the federal tax cut but if it is coupled with state taxes which of course we heard the president call for that states would do their part, then perhaps we would see more of a meaningful contribution, telling me earlier today that if you take away state taxes on top of it which can be over twice the federal tax, the impact could be significant. however, this is very important, his words here, this is very ...

Governors on board yet? >> youre just asking today? i dont know what the response has been just in the last seven, eight hours since he announced it, but were certainly having those discussions and we have certainly looked at the record of what has happened so far. but i would expect that now that the president has raised this, particularly with, again, states having had a surge of growth and revenue since the american rescue plan passed and with the president raising this and the notion that th...

If we are lucky, they could drop another 10, 15 cents by july 4. >> he says president bidens upcoming 2trip to saudi arabia probably wont do much to help prices near term. >> there is simply not enough refining capacity across the u.s. and this is a problem that has accelerated in the last few weeks with the increase will demand that weve been witnessing. if the saudis and biden administration make a deal, the next step is refining it into something more valuable and that is where the new kink i...

Oil to drill and to bring up is simply not true. >> chevrons ceo plans to attend the meeting biden convened but doesnt plan to go himself. sending his energy secretary instead. >> what i mean by first step, they are going to sit down and have a conversation. the second step is coming up with solution and ideas. >> refiners and oil companies have been clear they need a green light on policies over drilling, leasing, building infrastructure and regulation from the president who once vowed to end f...

Refining capacity is becoming a bigger chunk. in january 2021, the refining capacity was less for taxes and things like that. the amount of money refining is contributing to the price of gas is growing and growing at a much faster rate than other factors that go into a gallon of gas. so this the biggest problem were dealing with. it is the ability to return more oil into gas, and again, this is not the all time high. that was back in 2008. but of course, in todays dollars, it is over $5. if you ...