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“Diesel To Be Rationed On East Coast This Summer”: US Oil Tycoon Drops Major Energy Warning

What’s coming thanks to the disaster that is the Biden White House and its response to foreign events? Well, according to billionaire refinery and fuel station owner John Catsimatidis, America might move beyond the “fuel is too expensive stage” and to the “diesel fuel rationing” stage of shortages and inflation as soon as this summer, as Bloomberg reports:

“I wouldn’t be surprised to see diesel being rationed on the East Coast this summer.

“Right now, inventories are low, and we may see a shortage in coming months,” Catsimatidis, CEO of United Refining Co., told Bloomberg

And Catsimatidis isn’t the only one saying so. Others have made the claim that fuel shortages are coming.

One tweet, a screenshot of a Bloomberg article, blamed refinery shutdowns during Covid for part of the current problem, saying:

The factors fueling the refining shortage won’t surprise anyone: With demand for gasoline and jet fuel practically vanishing during the height of the pandemic, companies closed some of their least profitable crude-processing plants permanently.

[…]By the end of 2023, as much as 1.69 million barrels of US capacity is targeted for closure compared to 2019 levels.

So, thanks to the short time horizons of our late-stage capitalist system and the disastrous lockdowns pushed by the Covid tyrants, we’re looking at a serious fuel shortage.

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But wait, there’s more! A message was also supposedly broadcast to truckers saying that fuel shortages are coming to the East Coast:

Another tweet simply said:

Similarly, FreightWaves, reporting on the diesel shortage already happening in the Northeast, said:

The East Coast of the U.S. is reporting its lowest seasonal diesel inventory on record. And some trucking companies appear spooked.

The East Coast typically stores around 62 million barrels of diesel during the month of May, according to Department of Energy data. But as of last Friday, that region of the U.S. is reporting under 52 million barrels. 

The sharp increase of diesel prices has been a major stressor in America’s $800 billion trucking industry since the beginning of 2022. According to DOE figures, the price per gallon of diesel has reached record highs — a whopping $5.62 per gallon. It’s even higher on the East Coast at $5.90, up 63% from the beginning of this year. 

When relief is coming isn’t yet clear, and experts say higher prices are the only way to attract more diesel into the Northeast.

“I wish I had some good news for the Northeast, but it’s bedlam,” Tom Kloza, global head of energy analysis at OPIS, told FreightWaves. 

Whether that shortage will lead to rationing coming to pass remains to be seen. But when the truckers that rely on diesel supplies and a refinery owner involved with producing those supplies both start sending out warnings about what’s to come, it’s probably well past time to listen.

Fuel is already far too expensive, particularly for a nation as blessed with oil reserves as America, but it looks like things might soon take a turn for the even worse.

By: Gen Z Conservative, editor of Follow me on Parler and Gettr.