This May be the Golden Ticket We’ve Been Looking For in Metro Detroit, As We’re Paying $72.91 For a Gallon of Gas…

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Marathon Petroleum Co. is targeting its Detroit refinery for a $1 billion upgrade that would allow the facility to process Canadian crude oil. Such a move would add 135 jobs to the refinery and increase gasoline supplies in Michigan

Keep two things in mind:

  • The law of Supply and Demand
  • The fact that seemingly no one invests in refineries because it means less revenue for oil companies, plus no one wants an unsightly refinery in their back yard.
  • An economics teacher once said in class that if the oil companies start investing in domestic refineries, it’s a sure sign we’ve living in the end times. He was joking but made his point. More refineries means more fuel… more fuel (higher demand) means lower prices. No, I don’t expect us to go back to $0.89 9/10, but it may make a dent in our uncharacteristically high fuel prices compared to the rest of the nation. Let’s see where this goes…

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