(Answered) Assume for the sake of argument that a technological

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Assume, for the sake of argument that a technological breakthrough has made electric vehicles both highly efficient and low in cost. In a short time, 50% of consumers suddenly switched to electric vehicles.

Q1. What would happen to crude price differentials?

Q2. Will any refiner be disadvantaged relative to any other refiner?

Q3. How would refiner investment decisions be affected?

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