American Petroleum Institute CEO Mike Sommers discusses global oil supply shortages and the refining crisis. He weighs in on President Donald Trump considering the Defense Production Act to boost U.S. refinery capacity to lower energy costs.
Global refining crises threaten the U.S. energy market as wars leave ten percent of global refineries completely offline. American Petroleum Institute CEO Mike Sommers warns that President Donald Trump using the Defense Production Act will not bring capacity online quickly enough. Sommers notes domestic facilities are already running at ninety-eight percent to combat supply shortages.
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