{"id":62630,"date":"2022-05-13T06:11:44","date_gmt":"2022-05-13T11:11:44","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62630"},"modified":"2022-05-13T06:11:44","modified_gmt":"2022-05-13T11:11:44","slug":"diesel-to-be-rationed-on-east-coast-this-summer-warns-us-oil-billionaire","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62630","title":{"rendered":"“Diesel To Be Rationed On East Coast This Summer,” Warns US Oil Billionaire\u00a0"},"content":{"rendered":"
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“Diesel To Be Rationed On East Coast This Summer,” Warns US Oil Billionaire\u00a0<\/a><\/h3>\n<\/header>\n
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Billionaire refinery and fuel station owner John Catsimatidis warned that the East Coast might experience diesel shortages this summer as inventories hit multi-decade lows and refining capacity slumps.<\/p>\n

“I wouldn’t be surprised to see\u00a0<\/em>diesel being rationed on the East Coast this summer<\/em><\/strong>.<\/em><\/p>\n

“Right now,\u00a0<\/em>inventories are low<\/em><\/strong>, and we may see a\u00a0<\/em>shortage in coming months<\/em><\/strong>,” Catsimatidis, CEO of United Refining Co., told\u00a0<\/em>Bloomberg<\/em><\/a>.\u00a0<\/em><\/p><\/blockquote>\n

Catsimatidis’ warning comes as East Coast diesel inventories have fallen to the lowest levels since 1990. National stocks are around a two-decade low.<\/p>\n

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Tight fuel supplies are due to many factors. Two major ones are\u00a0declining refinery capacity<\/a>\u00a0on the East Coast and\u00a0increased fuel shipments to Europe<\/a>.<\/p>\n

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Diesel prices have risen for the past 17 days and hit a new record of $5.557 a gallon on Thursday, according to American Automobile Association. Gas prices are also at a new record of $4.418.<\/p>\n

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The billionaire’s warning follows a report\u00a0from logistics firm FreightWaves<\/a>\u00a0of “3 very large trucking fleets” preparing for diesel pumps at fuel stations to run dry across the Mid-Atlantic and Northeast regions this summer.<\/p>\n

Founder and CEO of FreightWaves Craig Fuller<\/a>\u00a0tweeted a few pictures of notifications from fleet operators, warning their drivers about “imminent” diesel shortages.<\/p>\n

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The East Coast diesel shortage situation appears dire as now an oil\/gas billionaire has confirmed what trucking fleets are warning about.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

“Diesel To Be Rationed On East Coast This Summer,” Warns US Oil Billionaire\u00a0 Billionaire refinery and fuel station owner John Catsimatidis warned that the East Coast might experience diesel shortages this summer as inventories hit multi-decade lows and refining capacity slumps. “I wouldn’t be surprised to see\u00a0diesel being rationed on the East Coast this summer. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[14047,32038,32879,32878,13863,4318],"class_list":["post-62630","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-diesel","tag-diesel-rationing","tag-diesel-shortages","tag-john-catsimatidis","tag-rationing","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62630"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62630\/revisions"}],"predecessor-version":[{"id":62631,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62630\/revisions\/62631"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}