09-26-2021, 04:40 PM
The refinery that produces 20% of the UK's petrol is facing bankruptcy and there's panic buying of petrol happening in the country
There's probably a bit of corporate skullduggery involved, but prima facie the refinery doesn't have a lot of debt sitting on it, and the owners are blaming lack of demand from the pandemic.
If the future is electric, then this story will be repeated and refineries will close once they become unprofitable, long before actual demand for petrol dwindles to zero.
There's probably a bit of corporate skullduggery involved, but prima facie the refinery doesn't have a lot of debt sitting on it, and the owners are blaming lack of demand from the pandemic.
If the future is electric, then this story will be repeated and refineries will close once they become unprofitable, long before actual demand for petrol dwindles to zero.