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</html><description>In the 1970s, when the federal government tightly regulated the oil market, federal policies encouraged construction of gasoline refineries. But deregulation in the first year of the Reagan administration allowed the oil industry and market forces to decide how many refineries were needed. As a result, the number of refineries and total capacity to produce [&hellip;]</description><thumbnail_url>https://i0.wp.com/publicintegrity.org/wp-content/uploads/2022/01/CPI_Knockout_Version2.jpg?fit=1500%2C700&amp;ssl=1</thumbnail_url><thumbnail_width>1500</thumbnail_width><thumbnail_height>700</thumbnail_height></oembed>