Refiners Can't Deliver Gas Price Relief Trump Wants, Says Stephen Schork

• Trump criticizes Exxon and Chevron for high profits, suggesting they are exploiting a shortage.
• Schork contends the shortage is artificial, caused by the administration's policies, and not due to the oil companies' actions.
• Refining capacity is operating at near 100% (Midwest at 100%, Gulf Coast at 97%), indicating no ability to significantly increase product supply.
• High refining margins reflect the product shortage, and refiners are already maximizing output, making it difficult to lower retail prices.

Stephen Schork addresses President Trump's criticism of Exxon and Chevron's profits, arguing that the high profits stem from a product shortage created by the administration's policies, not corporate greed. He emphasizes that refining capacity is already at maximum utilization, leaving little room to increase supply and lower gasoline and diesel prices for consumers.