Gas prices are expected to reach an annual high this summer across Canada and into fall, with more than one factor causing the increase, experts say.

  • Dearche@lemmy.ca
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    1 year ago

    It’s not the drilling that’s the issue, it’s the refining. The prices of crude isn’t so high on the market itself, but the post-refined products themselves. American refineries are at capacity and have been for at least a decade now, yet they aren’t doing anything to increase production.

    And as for Canada, we don’t have much when it comes to refining capacity in the first place.

    • bdiddy@lemmy.one
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      1 year ago

      no drilling is the issue lol. Shale wells deplete crazy fast. The decline rate is 70% in the first 3 years. We are reaching peak production. If you reduce the number of operators through buyouts it’s only going to make it impossible to crank out new production quickly.