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MSNBC MSNBC Reports June 4, 2024 15:20:00

Service. the refineries currently available to the u.s. right now are generally running at 90% utilization. you will hear that term referred to, utilization rates at refineries, which means most refineries in america are pumping close to or refining as much as they can. unless you have more refineries out there it is hard to put more fuel out there. with regard to the issue president biden brings up, the refinery mother-in-laws are getting wider and wider. but it is not because necessarily that refiners are physically taking oil and then selling them for a higher price. many of the profitability measures that the president is citing are due to financial contracts in the futures market. those are bid up by people like speculators and hedger as well. it is a very complicated issue. but the bottom line here is, unless there is a change to the overall paradigm or construct for energy in america, you are not going the see widespread relief until there is actually more refining capacity brou ....

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