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NE IA | Refining sounds like the choke point at the moment and in the immediate future. Investment in refinement capacity has been lagging due to added regulation and uncertainty created by this administration and their inability to manage or implement a smooth transition into their green whatever. Saw a stat that Biden has increased regs at a rate of 2.5 times that of Obama. Has also been stated that lending institutions have put the breaks on refining infastructure due to all the uncertainty. More scheduled to go off line next year. So stay tuned and keep two pens next to the checkbook, one may not be enough. Just glad these are not the people in the lookout tower watching for icebergs, oh wait.... | |
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