There appears to be no end in sight for the current fuel supply crisis, with summer demand set to spike while refineries run at an unsustainable rate. While refineries have the ability to bring more capacity online, investors are unwilling to get involved in long-term oil and gas projects. U.S. fuel exports have hit record highs and the banning of Russian oil imports by the European Union will only add to demand. Last week, Bloomberg reported , citing anonymous sources, that the Biden administration was looking into the possibility of restarting idled refineries in order to boost fuel production and tame prices. Meanwhile, operating refineries are running at utilization rates of over 90 percent, which, according to industry insiders, is an unsustainable rate. And come hurricane season, if there is refinery damage, things could get really ugly with the fuel supply situation. Welcome to the downstream nightmare of the […]