“The loophole allows oil companies to export products that they refine from crude oil”. More BS. This isn’t a “loophole”…a term deliberately used to give the impression refiners are cheating. The law was specifically written to allow product export. One reason was to allow US refiners to get rid of excess diesel. Had refiners not sold it to the EU market they would have had to increase their prices of domestic sales. Same reason EU refiners shipped their excess gasoline to the US. If the US refiners weren’t capturing profit margins in overseas markets they would have to do it all in the US market. So we would have higher domestic prices or refiners might have been driven to shut down. The foreign sales allow US refiners to be profitable. Folks don’t like them making a profit? Fine…cut back their activity […]