Shortages and Inflation New Norm? Refinery Closures Outpace New Construction

Refinery closures are outpacing new construction over the next five years and will significantly reduce the supply of items manufactured at refineries to meet increasing worldwide demands and place tremendous pressures on continuous shortages and inflation.

As the world has become impassioned with increasing its electricity generation from wind turbines and solar panels from breezes and sunshine, the world is silently slipping into a future of shortages and inflation as society's demands for all the products and fuels manufactured from crude oil is exceeding the supply available from the dwindling number of refineries.

Each refinery location is a business that needs to make business decisions.

There are over 100 new refineries under construction, with most of them in Asia with 88, Europe with 12 and North America with 10.

While worldwide demand for the products made with oil derivatives and fuels manufactured at refineries continue to increase, the upcoming closures of manufacturers over the next five years will significantly reduce the supply of those items and place tremendous pressures on continuous shortages and inflation.

The Environmental, Social, and Governance strategy to divest in all fossil fuels is working but will result in shortages and inflation as the new norm as society's demands for the products from crude oil are exceeding the supply from the diminishing number of manufacturers.

With worldwide refinery closures outpacing new construction, shortages and inflation are likely to be the new norm that inflict regressive expenses upon those that can least afford it.

https://dailyclout.io/shortages-and-inflation-new-norm-refinery-closures-outpace-new-construction/