Eric Schlossberg: There is no room for crack spreads to come back down. He says the government's policies have made it essentially uninvestible to build new refineries. The payback, because of the massive size of that capital investment, is at least ten years," he adds. "It just doesn't make any sense for any investor in their right mind to build any new refineries"
MacroVoices Erik Townsend and Patrick Ceresna welcome 42 Macro founder Darius Dale to the show. Darius says a U.S. recession is the “bull case”, and that the worst is yet to come for markets. They also discuss what’s ahead for inflation, commodities, stocks, and much more. https://bit.ly/3boYiqc
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