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Refining Capacity
Our loss is their gain...
While US Northeast refineries such as ConocoPhillips’ (COP) Trainer as well as Sunoco’s (SUN) Girard Point and Marcus Hook are on the verge of shutting down if a buyer is not found, the historic Port Arthur refinery near Sabine Lake in East Texas is about to complete a massive expansion.Could overly cumbersome environmental regulations in the Northeast have anything to do with this?
posted by Spencerblog at
7:48 AM
1 Comments:
Not widely reported here in the States is the fact that the Hovensa refinery in St. Croix, which has for many years supplied a great deal of refined product to the northeasteran US, closed in February. It is jointly owned by the Venezualen oil (government) intersts and Hess. They can't get it to even break even after many years of trying. So not only do we lose Marcus Hook and Trainer and Philadelphia refining, we'll also feel the impact of that closure, all for the same reasons.
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