we have thomas o'donnell, he is an energy and geopolitical analyst and also a consultant on global energy systems. and also in houston is josh young. he's the chief investment officer of bison interest. that's an investment firm focused on publicly traded oil and gas companies. a warm welcome to you all gentlemen, thank you for joining us today on inside story. there's obviously a big difference between crude oil, which we've been discussing at the price of and what you're actually paying at the pump in terms of price is what is actually to blame for the high prices that we're seeing. thomas, is it about refining or supply or both? it seems to me potentially both. well, i yeah, i think you hit the nail on the head and it also depends week to week, month to month. united states is running in a very high capacity with the refineries. as your story pointed out, the refining capacity is down, but the utilization is basically messed out. 9497 percent recently. but china, on the other hand, recently has been running the refineries. you know, something like a 3rd below max capacity. so there is