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U.S. data show crude, gas and distillate declines; refinery activity rises »

Posted by: STONERS 2 years, 6 months ago

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Reformulated gasoline futures closed higher Wednesday, recovering from a drop to their lowest level in three weeks, with a return to more normal U.S. refinery activity not necessarily enough to make up for a 10-week drop in motor-gasoline supplies.

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Comments: 2

Avg rating: (+3/-2 1)
STONERS
April 19, 2007, 11:39 a.m.
"Overall, this report should help take some pressure off prices, although the market could well decide to focus on rising refinery demand and tightening crude inventories to send crude higher,"
Avg rating: (+2/-0 2)
EsaEngr
April 20, 2007, 10:49 a.m.
From the article: "U.S. refineries operated at 90.4% of capacity for the week ended April 13, the Energy Department reported earlier Wednesday. A week before, they operated at 88.4% of capacity."
While I agree that we MUST find other (alternative) sources of energy, the reason that gasoline is so expensive is that our total refining capabilities averages running in the high 90% range. It only takes 1 refinery going off-line and demand reaches or exceeds output.
In the calif. recall election (6 yrs. ago) Schwarzenegger won partly on his promise to streamline the process of building refineries and electrical generation plants. To date... 1 has been built, and that was already well into the permitting process. The rest are being blocked by politicians supported by environmentalists.
The resolution... EACH state should have the refining capability to supply average demand 10 - 20%! But that will never happen