CEO of United Refining Co., John Catsimatidis said Wednesday the East Coast may experience diesel rationing and shortages this summer. “Drivers will pay the highest gasoline prices ever paid for Memorial Day,” Catsimatidis said.
“I wouldn’t be surprised to see diesel being rationed on the East Coast this summer,” said Catsimatidis during a phone interview, the outlet reported. “Right now inventories are low and we may see a shortage in coming months.”
National inventory levels are reportedly at a 17-year low after President Joe Biden’s ban on Russian oil imports in March. Fuel stockpiles on the East Coast, however, have reached their lowest in 32 years, according to the outlet.
NYC billionaire and gas station owner John Catsimatidis warns that the East Coast may face diesel shortages and rationing this summer https://t.co/dBLac7atW6
— Bloomberg (@business) May 11, 2022
The East Coast has been experiencing issues with fuel supply as far back as 2019 following an explosion at Philadelphia Energy Solutions which permanently closed the refinery. The hacking organization known as “DarkSide” was accused of using a ransomware attack against Colonial Pipeline in 2021 which supplied 45% of the oil used by the East Coast. –Daily Caller
Diesel shortages could result in rationing or fuel stations being unable to even supply the fuel to customers. Not to mention, if diesel is found, it’ll cost a lot more because of the economic law of supply and demand.
Diesel Shortages are Now “Widespread”
Global stocks of refined petroleum products have fallen to critically low levels as refineries prove unable to keep up with surging demand, especially for the diesel-like fuels used in manufacturing and freight transportation. The result has been a surge in prices refiners receive for selling fuels compared with the prices they pay for buying crude and other feedstocks, boosting their profitability significantly.
Record gap between gasoline and diesel, but the gap will start to shrink very soon- not by leaps and bounds, but slowly. https://t.co/oFGj8piR3h
— Patrick De Haan ⛽️? (@GasBuddyGuy) May 9, 2022
Stay up to date on current events, and pay attention to what’s happening in your area. Prepare as best you can, because it looks like global supply chain is going to take a huge hit and before much longer.
It Took 22 Years to Get to This Point
This article was originally published by Michael Snyder at The Economic Collapse Blog. The fact...
This article was originally published by Michael Snyder at The Economic Collapse Blog. When one...
This article was originally published by John W. Whitehead and Nisha Whitehead at The Rutherford...
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One of the crisis-housing-linked sweatshops, locally, reported that they had to sell off all their gas powered stuff, in order to be legal. Now, diesel and a fuel additive would be in short supply. In my state, electricity is turned off, in wintry days, due to winds blowing over the lines in dry badlands, and in summer, due to people using it. And, to keep oxen, donkeys, and horses would be illegal.
¯\_ (ツ)_/¯
You either need to be repenting in sackcloth and ashes and kissing your butt goodbye, or there would be no time like the present to start rebuilding civilization.
you are correct
Sorry you live in Kommiefornia. But hey, yer old, you won’t have to put up with it much more..
Muscular. Come from unusually tall people and centenarians.
Elitists are causing the destruction of American!
There fixed it for you!
the article implies this is happening in the US. zoom in on the vehicles and you will see those are not US license plates, they are european license plates. what is the motive for this deception?
Nope – the two cars in the background on the far right
have US type plates.
Those are Vermont plates, genius. Not sure why we have to put up with people like you.
Thank You Mr Biden for f—ing things royally
Meh I will just go here,, https://www.youtube.com/watch?v=0IvatagnV_M 🙂
Genius
It should be Horse with No Name.
This preferably…
https://www.youtube.com/watch?v=Bw9gLjEGJrw
Better yet!
https://www.youtube.com/watch?v=0cBsnopTVmo
Dolphins have a direct connection to our father… Much smarter than humans.
The Obammy Commie strikes again!