WHY WE’RE HERE

A freer country starts with a smaller government.

Taxes, debt and the deep state aren’t separate problems. They’re consequences of a government that has grown too large, too expensive and too powerful.

FEATURES

VICTORY, MT.

Victory, Montana was supposed to be a brief stop before Yellowstone. He’s been trying to make sense of the place ever since.

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THE PICTURE BOX

Movies and television, old and new—what holds up, what doesn’t, and what you may have missed.

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OBSERVED

Things noticed, praised, questioned, and occasionally called out.

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One U.S. Refinery Breakdown Could Send Global Fuel Prices Skyrocketing.

July 24, 2026

America’s refineries are doing the industrial equivalent of flooring the gas pedal while the warning light is on. And the backup plan is shrinking too. Here's 7 quick facts about America's refinery capacity and the current status of the Strategic Petroleum Reserve.

Here are seven quick facts about refinery capacity and the current status of the Strategic Petroleum Reserve:

U.S. refineries are running at 96 percent capacity nationwide.
Refineries in the Midwest and Rocky Mountain regions have reached 100 percent capacity.
That leaves almost no spare refining capacity if a major plant breaks down, loses power or is hit by a hurricane.
The Strategic Petroleum Reserve held 311.4 million barrels as of July 17.
The reserve hasn’t been this low since 1983, when the government was still filling it.
The SPR peaked at 726.6 million barrels in 2009, meaning today’s stockpile is less than half its record level.
Analysts estimate the reserve’s practical operating floor is between 180 million and 200 million barrels. Below that, additional withdrawals could risk damaging infrastructure and disrupting operations.