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refineries

Refinery Closures Lead to Rising Gas Prices and Job Losses

January 31, 2012 by Robert Rapier
with 122 views
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Refinery Closures and the Keystone Pipeline There have been several announcements in recent months of refinery closures that will likely impact gasoline supplies (and prices) on the East Coast. Some of those closures have been on the East Coast. Others — such as the Hovensa refinery in the Virgin Islands and some European refineries —... [read more]

The East Coast Refinery Gap

September 29, 2011 by Geoffrey Styles
with 696 views
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I see that ConocoPhillips has announced it will idle its 185,000 barrel-per-day Philadelphia area refinery, as a prelude to selling it or closing it permanently. Combined with the recent announcement that Sunoco would exit the refining business and sell or close its two refineries in Philadelphia, this amounts to just under half of the... [read more]

Indexing Crude Prices

November 16, 2009 by Geoffrey Styles
with 81 views
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Although oil trading hasn't been my primary focus for many years, the recent announcement by Saudi Aramco that it is switching its price mechanism for oil delivered to the US caught my attention. Instead of basing its formula for deliveries here on the price of West Texas Intermediate crude oil, it will apparently reference the new... [read more]

US Refineries Under Cap & Trade

August 24, 2009 by Geoffrey Styles
with 98 views
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A new study confirms my previous suspicions that the allocation of free emission allowances in the Waxman-Markey climate bill would disproportionately disadvantage the US oil sector, with serious consequences for our energy security. In particular, it quantifies the impact on the refining sector, which was chosen by the bill's authors... [read more]

"Over a Barrel" - Part II

August 3, 2009 by Geoffrey Styles
with 34 views
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Picking up where I left off in Friday's posting addressing the issues raised by ABC's recent "Over a Barrel" report, concerning what Americans ought to know about oil, let's turn to the products that we get from it. Over the course of a century and a half of production--this month marks the sesquicentennial of Drake's well--petroleum... [read more]

Refinery outages generally have small effects on gasoline prices, GAO says

July 31, 2009 by Michael Giberson
with 109 views
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A study by the Government Accountability Office has concluded that gasoline refinery outages tend to have small effects on prices.  While large scale weather events like Hurricane Katrina and Rita did result in large prices increases, such events are rare, the study said. In other findings: Typical unplanned refinery outages... [read more]