refineries shutting down 2022

Enter your email address to follow this blog and receive notifications of new posts by email. Thursday, May 12, 2022. About three weeks ago, gas at the Safeway on Mendocino Avenue was $4.94 per gallon. Underpinning the decisions not to reopen refineries is the fact that the U.S. is undergoing an energy transition from fossil fuels to renewables. U.S. refineries are already going gangbusters right now. The payment will decline to zero if margins increase to $10.20 per barrel. This would be the latest step in wider moves to shift the company as a whole onto a more environmentally sustainable footing, with two other refineries in Italy already having undergone a similar conversion. They're operating above 90% capacity according to the Energy Information Administration, and expected to run at 95% for the rest of the summer. It doesnt make sense, the 23-year-old said. (Photo by George Frey/Getty Images) Some refineries shuttered during the pandemic-induced recession in 2020, when demand for gasoline took a nosedive. Like Marathon, Valero has not given any indication when the refinery will be back up. Covid and oil demand took divergent directions in mid-2020. The refinery has since been bulldozed. According to a report from Reuters, published in June of this year, the refining capacity across the US fell by 4.5% during 2020, the largest drop since the recession of 2012. Sadly, it always seems to take a crisis for politicians to begin to wake up to the folly of their own actions. Cinquegrana said only one of the four California refinery shutdowns was unplanned. Fire smolders at an oil refinery that triggered several large explosions at the Philadelphia Energy Solutions Refining Complex on June 21, 2019. Due largely to the difficulty in obtaining federal permits and the constantly rising costs associated with complying with expanding environmental regulations, the U.S. has not seen the groundbreaking on a new greenfield refinery with at least 50,000 barrel per day capacity since the late 1970s. if(window.innerWidth<=1023){var write_html='