Ian Verrender

And that's because Middle East oil is relatively heavy.

It's got a lot of sulfur in it.

And the thing is, a lot of American refineries are geared towards that kind of oil.

And, you know, because that's where they were traditionally getting a lot of their oil from before they became supposedly self-sufficient.

You'd be surprised to know that America uses around about, in its refineries, it's about 60% US oil that goes through its refineries and the rest of it is imported.

The bulk of that comes from Canada and from Mexico.

But there's also suppliers from the Middle East as well.

So you get that mixture of oil that you need because of the way the refineries have been built, the way they've been set up to handle different types of fuel to produce diesel and everything else that needs to be produced.

So

You know, if you look at the heavier fuels out of the Middle East, sulphur is a big byproduct.

So sulphuric acid is made from there.

You've got a lot of other chemicals that come out of those oils that are used for the production of plastics and all kinds of things.

So, you know, you can't just simply reconfigure a refinery.

They exist the way they are.

Either you bulldoze them and build a new one.

But the way it's been working is that America exports oil and it imports oil as well.

No.

Short answer.

And I mean, who's going to do it?

You know, it always amazes me that, you know, we go through these periods where, and particularly conservative governments, essentially say government needs to be out of business, right?