Global refining crisis identified as driver of diesel surge
1Sep 21 10:12 AM · 5d ago · 1 article · 1 source · development 1 of 3
Reporting shows diesel and fuel prices hitting fresh highs not primarily due to crude scarcity but because wars have damaged refineries, creating capacity constraints. French officials estimate the global market is missing 10 million barrels of crude per day out of 105 million consumed daily. Nobel Prize-winning economist Paul Krugman identifies the crisis as one in petroleum products, not petroleum itself.
pbs.org
“The current world energy crisis, then, is largely a crisis in petroleum products, refined from crude oil, rather than in petroleum itself.”
Paul Krugman
Paul KrugmanEconomistKenneth GillinghamYale environmental and energy economics professorJaniv ShahVice president, Rystad EnergyToril BosoniHead of International Energy Agency oil industry divisionGregory DeYongSouthern Illinois University supply chain management professor
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Paul Krugman EconomistKenneth Gillingham Yale environmental and energy economics professorJaniv Shah Vice president, Rystad EnergyToril Bosoni Head of International Energy Agency oil industry divisionGregory DeYong Southern Illinois University supply chain management professor