Oil prices have topped $100 a barrel as Americans continue to face higher gas and diesel prices. Matt Cody, founder and president of the Oil and Gas Workers Association, explains why refining capacity is playing a major role in the recent increase at the pump.
Cody says U.S. refineries are operating at maximum capacity while attacks on refineries in Russia and the Middle East have further reduced global refining capacity.
The discussion also covers the Trump administration’s new energy relationship with Venezuela and its vast oil reserves, which the administration says could expand future oil supplies and help lower prices.
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