While president Joe Biden himself is hampering the U.S. energy sector by suspending new LNG export permits, his Mexican counterpart says he regrets not buying more oil refineries for Mexico.

Andres Manuel Lopez Obrador admitted he regrets not authorizing the purchase of two more oil refineries similar to Deer Park in Texas.

At one time, AMLO admitted, he and others believed refineries were becoming obsolete due to the growing popularity of electric cars.

AMLO revealed that three years ago, about a dozen refineries in Houston were up for sale at significantly lower prices, and Shell had a few available. He said the decision not to purchase the refineries was influenced by the lack of confidence in the future of gasoline and the difficulty in obtaining U.S. approvals for the deal.

Lopez Obrador said he would encourage the next president to build and buy new refineries.

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