The Julia La Roche Show · Saturday, October 24, 2026
Chris Whalen pointed out that while natural gas prices are down significantly year-over-year, refined petroleum products and diesel remain elevated because 20% of the world's refining capacity was located in the Gulf and has been lost, taking years to rebuild.
“And 20% of the world's supply of refined product was in the Gulf. And it's now gone.”
“So that's why I think you're going to continue to see refined product and derivatives, very high prices, simply because it's going to take years to rebuild and repair this capacity.”