As long as demand stays high, people will have to pay more.
They have every incentive to take care of people and make sure their refineries come back on line. Otherwise, they are creating greater risks.
This is going to be more than a serious dip in the economy. This is going to be more like an anchor, dragging everything down with it.
May end up importing labor from other producing regions.
I welcome the investigation to hopefully put the issue to rest once and for all, but it doesn't seem likely that something will be found.
91 percent of crude is offline as we speak. Sixty-one percent of the (natural) gas is offline, and it's going to get worse.
The damage is already done.
This is such a tight market for all petrochemical and refined products that they needed to do this. Every day of discontinued or reduced production is a day of lost profit or lost profit opportunity.
Competition will continue, just on a smaller scale.
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