Keyword: refineries

Brevity: Headers | « Text »
  • Refinery problem sends gasoline prices soaring in upper Midwest

    08/12/2015 10:43:45 AM PDT · by afraidfortherepublic · 36 replies
    Milwaukee Journal Sentinel ^ | 8-12-15 | Joe Taschler
    If you are near a gas station in metro Milwaukee, you might want to stop and fill up. Right now. As oil prices have hit their lowest price in 6 years this week, gasoline prices in Milwaukee are soaring. Wholesale gasoline prices are now higher than retail prices in the upper Midwest and that means prices at the pump will jump in coming days. "It's going to be very ugly," said Patrick DeHaan, senior petroleum analyst at The wholesale price of gasoline has risen 90 cents since Monday. As of Wednesday morning, the wholesale price was higher than retail,...
  • Union strikes at 9 US refineries in bid for new contract

    02/01/2015 12:34:34 PM PST · by george76 · 41 replies
    CNBC .. Reuters ^ | Feb 1, 2015 | Lucy Nicholson
    Union leaders called strikes on Sunday at nine U.S. refineries in a bid to pressure oil companies to agree to a new national contract covering workers at 63 plants. The walkouts, the first held in support of a nationwide pact since 1980, target plants that together account for more than 10 percent of U.S. refining capacity. The discord comes as plunging crude prices force oil companies to slash spending. Royal Dutch Shell, the lead industry negotiator, indicated talks had broken down. ... Shell activated a strike contingency plan at its sprawling joint venture refinery in Deer Park, Texas, to keep...
  • High Noon on the Gulf Coast: Canada, Saudi Oil Set for Showdown

    01/06/2015 10:43:07 AM PST · by thackney · 9 replies
    Reuters via Rig Zone ^ | January 06, 2015 | Catherine Ngai
    As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America's Gulf Coast refinery market threatens to drive prices even lower. While the stand-off between the oil cartel and U.S. producers of light, sweet shale oil has captured the limelight in recent months, the clash over heavier grades - playing out in the shadowy, opaque physical market - may put even more pressure on global prices that have halved since mid-2014. Two factors will come into play over the next few...
  • Eagle Ford condensate producers win, refiners lose in oil export decision

    06/25/2014 5:12:18 PM PDT · by shove_it · 23 replies
    SeekingAlpha ^ | 25 Jun 2014
    The decision to allow two Texas companies to export condensates looks like a win for Eagle Ford Shale crude producers at the expense of refiners and companies planning to build processing plants along the Gulf coast. Today's selloff in refiners reflected concern that the groups will lose some of their competitive edge if condensate exports become common: Valero Energy (VLO), the largest U.S. refiner, dropped 8.3%, PBF tumbled 10.72%, PSX fell 4.2%, and HFC slid 6.7%. Oppenheimer notes that Pioneer Natural Resources PXD, DVN, MRO, COP and MUR produce the most Eagle Ford condensate, and could benefit if U.S. condensate...
  • Eagle Ford crude prompts upgrades at Valero’s Texas refineries

    02/03/2014 12:16:30 PM PST · by thackney · 8 replies
    Oil & Gas Journal ^ | 02/03/2014 | Robert Brelsford
    Valero Energy Corp., the largest US independent refiner-marketer, plans to invest $730 million in upgrading two of its Texas refineries to process increased volumes of light crude sourced from the Eagle Ford shale. The company will spend $390 million at its 160,000-b/d Houston refinery and $340 million at its 325,000-b/d Corpus Christi, Tex., refinery to add crude topping units designed to boost crude oil processing capacities at each of the plants, Valero spokesman Bill Day told OGJ. While the addition of these units will not add to the refineries’ overall output capacities, they will allow the plants to reduce their...
  • Ownership of U.S. petroleum refineries has changed significantly since 2000

    01/30/2014 5:18:22 AM PST · by thackney · 11 replies
    Energy Information Administration ^ | JANUARY 29, 2014 | Energy Information Administration
    U.S. refining capacity increased since 2000 as capacity additions outpaced the loss of capacity from three major refinery closures. Yet the number of refineries and companies both declined over the same period, as the concentration of refining capacity among the top five companies increased from 38% in 2000 to 44% in 2013. Ownership of U.S. refinery capacity changed substantially in recent years, notwithstanding relatively slow changes in refinery capacity and the number of companies involved in the refining sector. An examination of company-level information and transactional data since 2000 shows both consolidation and dispersion. Almost 40% of large refiners (i.e.,...
  • Washington's Latest Special Favor (Of the nation's 143 refineries, one was exempted)

    08/10/2013 2:00:34 PM PDT · by Hojczyk · 26 replies
    The Wall Street Journal ^ | AUG 8,2013 | KIMBERLEY A. STRASSEL
    This matters because for refineries to stuff ballooning amounts of ethanol into a static gas pool, they must blend it at levels of more than 10%. Since the nation's auto makers have declared they will void the warranties of cars using gas with more than 10% ethanol, refineries face lawsuits. Most have instead turned to buying federal renewable "credits" to make up for the ethanol they don't blend. As demand for these credits skyrockets, so has the price—jumping from a few pennies a gallon last year to close to $1 a gallon today. Oil refiner Valero has said the credits...

    02/09/2002 4:16:51 PM PST · by RaceBannon · 480 replies · 3,525+ views
    not sure yet ^ | 02/09/02 | RaceBannon
    VANITY POST: I have been trying recently to compile any articles of Arabs within the United States or Europe taking pictures of Nuclear Plants, Chemical Plants, large buildings.
  • Report: EPA-funded group misleads public, government agencies

    10/23/2012 12:42:54 PM PDT · by tobyhill · 5 replies
    daily caller ^ | 10/23/2012 | Michael Bastasch
    An EPA-funded environmental group has been disseminating misleading data about refineries to make them appear to be more dangerous than they actually are in order to invite federal intervention, according to a report to be released early this week. The Environmental Protection Agency has been bankrolling a project by the Louisiana Bucket Brigade, a state-based environmental group, called the Refinery Efficiency Initiative which has been presenting misleading information to the media and to regulators, according to a report by the Pelican Institute, a Louisiana-based think tank. “[The Louisiana Bucket Brigade] refinery transparency initiative bankrolled with taxpayer money has flooded the...
  • Refiners are being squeezed

    05/09/2012 10:27:14 AM PDT · by Oldeconomybuyer · 1 replies
    The Atlanta Journal-Constitution ^ | May 9, 2012 | By Charles T. Drevna
    America’s petroleum refiners manufacture safe, proven and reliable high-quality fuels and other products in an environmentally responsible manner to keep America moving, our economy growing, our citizens employed and our nation secure. But refiners are being squeezed by costly government overregulation, foreign competition, high oil prices and reduced fuel demand. A recent report by the Department of Energy found the compounded burden of federal regulations was a significant factor in the closing of 66 oil refineries in the United States in the past 20 years, wiping out thousands of jobs. Two money-losing refineries in the Philadelphia area are threatened with...
  • Gas Prices Still Going Up, Refineries Shutting Down

    03/19/2012 6:44:11 AM PDT · by Halfmanhalfamazing · 69 replies · 1+ views
    Boise Weekly ^ | March 18th | George Prentice
    Energy industry analysts say there's no relief in sight at the nation's gas pumps. While prices jumped 6 percent in February, market experts said many of the nation's refineries have been idled or shut down permanently because their owners claimed they were losing money on them. According to the Wall Street Journal, Sunoco is expected to close another of its large refineries this July, "taking another 335,000 barrels per day in production capacity off the market."
  • Texas leads U.S. in greenhouse gas emissions

    01/12/2012 6:44:06 AM PST · by smokingfrog · 40 replies ^ | 11 Jan 2012 | Matthew Tresaugue
    As the nation's light switch and gas pump, Texas releases far more greenhouse gases into the air than any other state, according to federal data released Wednesday. Texas' coal-fired power plants and oil refineries generated 294 million tons of carbon dioxide and other heat-trapping gases in 2010, more than the next two states - Pennsylvania and Florida - combined, the data shows. The Environmental Protection Agency released the data by industrial facility for the first time as part of a broader effort to reduce emissions linked to global warming. The agency collected data from more than 6,700 industrial facilities that...
  • Gasoline may rise above $4 as plants [refineries] shut

    12/31/2011 10:14:42 AM PST · by Lorianne · 61 replies · 1+ views
    source cannot be posted
    see link in first post
  • Chuck (Schumer): Probe oil refiners' profits

    05/29/2011 2:40:04 PM PDT · by lowbridge · 46 replies
    NY Post ^ | May 29, 2011
    New York Sen. Charles Schumer wants the government to investigate U.S. oil refiners' skyrocketing profits, which he said are to blame for high gas prices. "Something is rotten," said the Democrat, speaking today at a gas station on Manhattan's West Side. He said refiners' profits have more than doubled since last year. Meanwhile, the price of unleaded gas went up by almost 12 percent in just the two weeks ending May 6, topping $4 a gallon in New York. The senator said he believes refiners may be fixing prices by cutting back on stockpiles — by keeping refining capacities to...
  • Democrat Seeking ‘Price-Fixing’ Probe of Oil Refineries Not Sure How Many Are Run by ‘Big Oil’

    05/20/2011 10:50:44 AM PDT · by jazusamo · 12 replies
    CNSNews ^ | May 20, 2011 | Penny Starr
    ( - Senate Democrats are calling on the Federal Trade Commission to investigate possible price-fixing of gasoline by U.S. refineries because “recent reports,” according to the senators, suggest the refiners are trimming supply to keep prices high. But a federal report from November shows that refinery stockpiles started to decline in 2008, if not earlier. At a press conference on Tuesday, Sen. Claire McCaskill (D-Mo.) and Sen. Charles Schumer (D-N.Y.) announced that they had sent a letter that day to the FTC, “to request the Commission begin an investigation into potential price fixing of gasoline by U.S. refiners.” “Recent...
  • Texas City residents ordered to stay indoors as more refineries lose power

    04/26/2011 12:25:39 PM PDT · by DallasDeb · 27 replies
    AP ^ | 04/26/2011 | Juan A. Lozano
    TEXAS CITY, Texas (AP) — Three refineries, including a BP unit where a 2005 explosion killed 15 people, and a Dow Chemical plant lost electricity in outages that led to shelter-in-place emergency alerts and the cancellation of public schools Tuesday in Texas City. The source of the power outages was still being sought, emergency officials said. A second shelter-in-place alert, advising residents to stay indoors, was issued around 5:30 a.m. Tuesday after a Valero refinery also lost power, Texas City Homeland Security coordinator Bruce Clawson said. A BP refinery, site of the deadly March 2005 accident that also left 170...
  • West Coast energy operations brace for tsunami

    03/11/2011 10:41:31 AM PST · by Qbert
    Reuters via Yahoo Finance ^ | 3/11/2011 | Reuters
    NEW YORK (Reuters) - U.S. energy companies with operations in Hawaii, Alaska and along the coasts of California, Oregon and Washington were on alert on Friday for the possibility of a tsunami set off by a massive earthquake off Japan reaching U.S. shores. Tesoro Corp which has the largest concentration of refinery capacity in the region, said it had closed a few retail stations in some low lying areas of Hawaii as a precaution and was monitoring operations at its refineries in Hawaii, Alaska, California and Washington.
  • EPA gives final "no" to Texas refinery permits

    07/12/2010 5:03:16 PM PDT · by EBH · 59 replies · 4+ views
    Scientific American ^ | 07/07/2010 | By Erwin Seba
    Leading U.S. independent refiner Valero Energy Corp faulted the decision. San Antonio-based Valero has six Texas refineries, the most owned by a single company. The plants employ 2,700 people. "When the flex permit program was rolled out in 1994, EPA and environmental groups applauded it, and EPA approval seemed implicit," said Valero spokesman Bill Day in a statement. "Now, 16 years later, EPA is reversing course, and our facilities are caught in the middle, creating significant uncertainty at a time when our economy can least afford it."
  • Feds taking over permits for Texas plants [EPA going after refineries]

    05/25/2010 10:27:17 PM PDT · by smokingfrog · 66 replies · 1,808+ views ^ | May 25, 2010 | PEGGY FIKAC
    Objecting to how Texas regulates air pollution, the U.S. Environmental Protection Agency said Tuesday it is taking over the issuance of an operating permit for a Corpus Christi refinery and could step in at some 39 other major facilities across the state. “I think the writing will be on the wall — unless we start seeing better permits that address our objections, we are very likely to begin federalizing others,” EPA Regional Administrator Al Armendariz said in a telephone interview. “The state is not following federal Clean Air Act requirements.” Tuesday's unprecedented action affected a Flint Hills Resources refinery in...
  • Study shows US refineries have bad safety record

    04/03/2010 8:32:41 AM PDT · by mlocher · 13 replies · 598+ views
    AP via ^ | April 2, 2010 | SETH BORENSTEIN
    WASHINGTON – U.S. oil refineries have an ongoing problem with accidents that turn deadly, losing four times as much money from such incidents than refineries in the rest of the world, according to an insurance company report obtained Friday by The Associated Press. The problem is highlighted by a deadly string of explosions, including one that killed four people Friday at a Tesoro Corp. refinery in Washington state, federal officials said. The federal Occupational Safety and Health Administration got so worried that in 2007 it started a major push for safety inspection in refineries and found more than 1,000 workplace...
  • Iran picks investors for 5 new refineries

    03/06/2010 9:09:07 PM PST · by theanchoragedailyruse · 5 replies · 284+ views
    Tehran Times ^ | Sunday, March 14, 2010 | Volume: 10824 | Source: Press TV
    Iran has selected the investors for developing five oil and gas refineries worth $11.7 billion, a report has announced. “The investors for setting up the five refineries, namely, the Persian Gulf Star, Hormoz, Pars Petrofield, Anahita and Khuzestan refineries, have been selected and it is predicted that the investors for the Caspian and Shariar refineries will be chosen in the near future,” Mehr news agency reported on Saturday. The five refineries for which investors have been chosen are already under construction. Moreover, Iran plans to build seven new oil and gas refineries worth $17 billion in a bid to diminish...
  • How Carbon Bill Would Hit Valero Energy

    11/26/2009 5:53:55 AM PST · by reaganaut1 · 6 replies · 649+ views
    Forbes ^ | November 13, 2009 | Christopher Helman
    William Klesse, chief executive of oil refiner Valero Energy, is riled up. "I think cap-and-trade is ludicrous," he says. "The whole bill is a hidden tax." The so-called climate bill wending its way through the Senate aims to create a cap-and-trade regime covering emissions of carbon dioxide and other greenhouse gases. If it passes in anything close to its current form, the bill would milk more carbon cash (payments to the government for the right to pollute) out of refiners than any other industry--somewhere between $30 billion and $110 billion a year. Valero, as America's biggest refiner (2.4 million barrels...
  • Shifting Oil Sands

    09/01/2009 5:03:45 PM PDT · by Kaslin · 5 replies · 1,027+ views
    IBD Editorials ^ | September 1, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy: We balk at importing "dirty" oil from Canada, but others aren't so reluctant. Exempt as a "developing" nation from Kyoto-like agreements, China has decided to help Canada develop its energy-rich oil sands.The Financial Post reports that PetroChina International Investment Co. has struck a deal to buy a 60% interest in Athabasca Oil Sands Corp.'s McKay River and Dover projects for $1.9 billion. China has been establishing energy beachheads around the world in its quest to keep its growing economy fueled. With possible conflict brewing between Israel and Iran, Beijing recognizes the need for reliable suppliers like Canada in an...
  • Cap-And-Trade Is Refinery Killer

    08/25/2009 5:59:14 PM PDT · by Kaslin · 15 replies · 1,936+ views
    IBD Editorials ^ | August 25, 2009 | INVESTORS BSINESS DAILY Staff
    Energy Policy: A new study shows that Waxman-Markey will increase prices at the pump, deepen our dependence on foreign oil and shred our ability to turn crude into gasoline. Even fuel-efficient cars will still need fuel.Oil may bubble up out of the ground, but gasoline does not. It's made in those ugly little NIMBY places called refineries we are loath to build anymore because we're too busy trying to save the Earth rather than our economy and American jobs. When Hurricane Katrina shut down 20% of our refining capacity in a single day and raised gas prices in a single...
  • Who's Really To Blame For $100 Oil? - ("D's")

    02/20/2008 5:40:45 PM PST · by Loud Mime · 62 replies · 320+ views
    Investor's Business Daily ^ | 2/20/2008 | IBD Editorial Board
    Energy: A refinery burns in Texas while politicians fiddle in Washington. As oil goes over $100 a barrel, we don't have to worry about Hugo Chavez restricting supply. We have the Democrats in Congress to do that. Suppose you had a ton of money sitting in your bank account but you decided to max out your credit cards anyway. That's the energy policy of the United States as fashioned by the Democrat-controlled Senate. At these prices, we have a trillion dollars worth of oil sitting under a section of frozen tundra the size of Dulles Airport near Washington, D.C. We...
  • ExxonMobil not leaving plant operations to chance in face of possible strike

    01/28/2009 7:55:39 AM PST · by TornadoAlley3 · 7 replies · 710+ views ^ | 01/27/09 | DAN WALLACH and AMY A. COLLINS
    ExxonMobil Corp.'s Beaumont refinery is making plans to keep the plant going in case of a work stoppage by union labor at midnight Saturday. Oil workers nationally are bargaining with industry on a new contract. Local unions are bargaining with individual companies on some issues as well.
  • California Set to Adopt Sweeping Global Warming Plan

    12/11/2008 7:42:36 AM PST · by Sammy67 · 61 replies · 1,670+ views
    NewsMax ^ | 12/11/08
    SACRAMENTO, Calif. -- California's utilities, refineries and large factories must transform their operations to cut greenhouse gas emissions as part of a new climate plan before state regulators. On Thursday, the California Air Resources Board was expected to adopt what would be the nation's most sweeping global warming plan, outlining for the first time how individuals and businesses would meet a landmark 2006 law that made the state a leader on global climate change. It would hold California's worst polluters accountable for the heat-trapping emissions they produce _ transforming how people travel, utilities generate power and businesses use electricity. At...
  • Breaking : SHOOTOUTS IN MUMBAI [A lot of people killed and injured]

    11/26/2008 9:39:53 AM PST · by Indian_Fighter_Kite · 2,960 replies · 102,348+ views
    CNN IBN ^ | Wed, Nov 26, 2008
    Mumbai: At least 15 people have been injured in gunfights between two groups in at least three places in Mumbai on Thursday night. Details are sketchy but it is believed that two gangs fired at each other at outside CST Railway Terminus, Hotel Oberoi and the popular Café Leopold restaurant in Mumbai. The first shooting took place near the CST police station
  • Refiners Look to Reduce Production as Falling Gas Prices Cut Into Profits

    10/29/2008 8:42:47 AM PDT · by BGHater · 18 replies · 654+ views
    WSJ ^ | 27 Oct 2008 | ANA CAMPOY
    As falling gasoline prices squeeze refining profits, there are signs that refiners are ratcheting back production to pare losses. Gasoline output, which had been expanding as U.S. refineries came back online after hurricane-related shutdowns, dropped for the first time in weeks, according to data reported last week from the Department of Energy. Philadelphia refiner Sunoco Inc. said last week that it is shutting down a unit used in gasoline production at one of its refineries, though it declined to say why. "It makes no sense to be running [equipment] if they're not making any money," said Daniel Katzenberg, an analyst...
  • Regular back, mid-grade and premium gas still takes work to find (Knoxville TN)

    10/02/2008 7:09:19 PM PDT · by DGHoodini · 6 replies · 329+ views
    KNOXVILLE, Tenn. (WVLT) -- Mid-grade and premium gas runs about a dime to a quarter more than regular, if you can find it, but why does East Tennessee still have a premium on supplies of higher grade gasoline. You can blame the tailwinds of hurricanes Gustav and Ike, which makes driving tougher, given how many more of our luxury cars or SUVs recommend premium fuel. But 'recommend' is the key word. "I need because I'm actually on empty." Lenoir City's Adam Smith's cruised himself out trying to find a pump that still has premium. Smith says, "I gotta get some...
  • 13 0f 17 Houston Refineries back online.

    09/28/2008 10:59:32 AM PDT · by DGHoodini · 30 replies · 627+ views
    MSNBC | 9/28/2008 | DGHoodini
    Just heard it reported on MSNBC that "4 of the 17 Hoston area refineries that were taken off line, and were damaged to varying degrees by Ike, were "stiil down"". And it is these refineries that are the cause of the shortages in the mid eastern states, and that while on the downside of the hump, it will probably take another week to 10 days before supply lines are operating at normal capacity. But before then, Virginians should expect to see *their* gas stations reflect shortages for a brief time too.
  • Hurricane Ike destroys 49 oil platforms in Gulf

    09/19/2008 7:56:01 AM PDT · by Tolerance Sucks Rocks · 14 replies · 586+ views
    GOPUSA ^ | September 19, 2008 | H. Josef Hebert (Associated Press)
    WASHINGTON (AP) -- At least 49 offshore oil platforms, all with production of less than 1,000 barrels a day, were destroyed by Hurricane Ike as it raced across the Gulf of Mexico, and some may not be rebuilt, the Interior Department said Thursday. It said in the latest hurricane damage assessment that the platforms altogether accounted for 13,000 barrels of oil and 84 million cubic feet of natural gas a day. There are more than 3,800 production platforms in the Gulf producing 1.3 million barrels of oil and 7 billion cubic feet of gas each day. Most remain shut down.
  • Oil Falls to Six-Month Low as Refineries Escape Major Damage

    09/14/2008 11:39:45 AM PDT · by DGHoodini · 22 replies · 183+ views
    Sept 14, 2008 | Mark Shenk
    I cannot post the content, but here's the link to the Bloomberg news story: Hopefully, this does not contravene the rules.
  • Contacting McCain's Campaign? McCain Needs To Announce That He Will Support New Refineries (Vanity)

    09/13/2008 9:03:23 AM PDT · by proudofthesouth · 23 replies · 184+ views
    I don't want to tie up the hurricane thread with this vanity but does anyone know how to email or phone John McCain's upper campaign personnel? Hurricane Ike will affect the entire country in terms of fuel prices. McCain needs to go before the press NOW and announce that he WILL push through legislation authorizing new refineries NOT located in the GOM! (And pardon my language but to hell with the demonwits and the enviro wackos!) He needs to do it now and repeat it until Election Day. I will gladly write or phone him if someone can supply the...
  • Hurricane Ike Live Thread III

    09/12/2008 5:12:09 AM PDT · by NautiNurse · 2,862 replies · 7,833+ views
    NOAA/NHC ^ | 12 September 2008 | NOAA/NHC
    Large and dangerous Hurricane Ike approaching the Upper Texas coast. Mandatory evacuations began in earnest Thursday as an estimated one million coastal residents headed inland. There were widespread reports of gas stations running out of fuel. The National Weather Service posted dire storm surge predictions of 20-25 ft storm surge along the coast and bay heads. Hurricane warnings covered a 400 mile swath of the Gulf of Mexico. Wholesale gasoline prices spiked 30 percent Thursday, or nearly $1 a gallon, out of fear of what Ike might do. Public Advisory Updated every 3 hours Discussion Updated every 6 hours Buoy...
  • Oil Change : The other face of Saudi Aramco

    08/22/2008 5:53:18 AM PDT · by bert · 11 replies · 282+ views
    Forbes ^ | August 11, 2008 | Christopher Helman
    To engineer a huge expansion in the chemicals business, the oil giant has put a woman in charge Nabilah Al-Tunisi was wrapping up an executive M.B.A. at Stanford University two summers ago when she got an urgent call from Saudi Aramco headquarters in Dhahran. Pack your bags, she was told, and move to Houston. Al-Tunisi had just been put in charge of the engineering on a new $25 billion refinery and petrochemicals plant--the Ras Tanura Integrated Project. Ras Tanura, a tiny finger in the Persian Gulf, already has a 550,000-barrel-per-day refinery, Aramco's biggest. Under a joint venture with Dow Chemical...
  • Domestic Oil: 5 years from exploration to production

    07/06/2008 2:30:19 PM PDT · by Josh Painter · 46 replies · 233+ views ^ | July 6, 2008 | Josh Painter
    How often have you heard Democrat politicians and liberal environmentalists argue that it makes no sense to drill for oil domestically because it will take at least ten years before we will see any of that oil? Let's put that old canard permanently to rest, shall we? According to a report from APRN, Alaska's Public Radio Network, it's been done in just half that time: Pioneer Natural Resources Company has brought a near-shore oil production unit on line. Pioneer spokesman Tadd Owens says the first barrel from the Oooguruk facility was sold yesterday. The unit lies northwest of the Kuparuk...
  • Congressman DeFazio (D) OR Response

    06/20/2008 11:50:17 AM PDT · by thirst4truth · 23 replies · 119+ views
    My Email | 6/16/2008 | Peter DeFazio
    Thank you for contacting me about the escalating price of gasoline and U.S. dependence on foreign oil. I appreciate hearing from you. Currently, about 67 percent of the oil consumed in the U.S. is imported, 33 percent is produced here at home. Experts project that this trend will continue for many years. While it sounds logical to just say that if we produce more here at home, then we'll have to import less, in reality, if the only U.S. policy is to more rapidly deplete our own reserves by drilling for oil here at home, we will become more dependent...
  • (Video) Neil Cavuto: House Dems Call to “Nationalize” Oil Industry

    06/18/2008 4:13:50 PM PDT · by Jay777 · 20 replies · 157+ views
    Stop the ACLU ^ | 18-Jun-08 | John Stephenson
  • Iran commits to 7 refineries in bid to end exports

    06/08/2008 3:45:34 AM PDT · by ovrtaxt · 26 replies · 145+ views ^ | June 4, 2008 | unknown
    Wednesday, June 4, 2008 Iran commits to 7 refineries in bid to end exports NICOSIA — Iran plans to construct seven oil refineries in an effort to achieve energy self-sufficiency. A senior Iranian official said the refineries would increase capacity by more than 1.5 million barrels per day and end gasoline exports. The official said all seven refineries would begin operations by 2012, Middle East Newsline reported. "The construction of seven refineries has started with the investment of 15 billion euro," National Iranian Oil Refining and Distribution Co. director Aminollah Eskandari said. "About 1.56 million barrels will be added...
  • TransCanada unveils pipeline construction program

    04/27/2008 4:56:11 PM PDT · by Tolerance Sucks Rocks · 21 replies · 840+ views
    Calgary Herald ^ | April 25, 2008 | Gordon Jaremko, Edmonton Journal
    EDMONTON - TransCanada Corp. alone plans to ship more than one million barrels a day of oilsands production to the United States with an expanded pipeline construction program unveiled today. The Alberta oil and gas delivery mainstay added a second leg to its new Keystone export service that would more than double the system's capacity and extend it to the Texas coast of the Gulf of Mexico. TransCanada president Hal Kvisle said the added route is a companion instead of competition for projects underway by Enbridge Inc., which is also advancing more than one million barrels daily in new oilsands...
  • FBI: Atlanta, Canada terror suspects met

    01/14/2008 6:47:48 PM PST · by NormsRevenge · 16 replies · 296+ views
    AP on Yahoo ^ | 1/14/08 | Harry R. Weber - ap
    ATLANTA - Two U.S. citizens accused of plotting to attack civilian and government targets shot "casing videos" of Washington landmarks that were found on a terrorism suspect's computer in Britain and met with suspects in a Canadian terrorism case, an FBI agent testified Monday. Agent Mark Richards testified that the videos of the U.S. Capitol and other Washington landmarks taken by Syed Ahmed and Ehsanul Sadequee were found on a computer belonging to Younis Tsouli, a Moroccan-born man who pleaded guilty in Britain in July to inciting others to commit acts of terrorism. Richards also said Ahmed and Sadequee, during...
  • ALL HAT, NO CATTLE (Iran's Mullahs, Venezuela's Hugo Chavez and crude oil)

    11/30/2007 5:32:43 PM PST · by 2ndDivisionVet · 15 replies · 1,001+ views
    Financial Sense ^ | March 30, 2007 | Elliott H. Gue
    "Water, water every where, And all the boards did shrink; Water, water every where, Nor a drop to drink." --Samuel Taylor Coleridge, The Rime of the Ancient Mariner ----------------------------------------------------- Iran isn’t an energy-independent country. I’m well aware that Iran produces more than 4 million barrels of oil per day, the fourth-highest production in the world. And with the near-constant reporting about Iranian crude reserves during the past six months, I find it difficult to believe that anyone could be unaware that Iran has 132 billion barrels in proven reserves--or, at least, they claim to. But what’s often ignored is that...
  • California Gas Prices Reach $5 In Some Areas

    11/08/2007 10:37:56 AM PST · by 2ndDivisionVet · 48 replies · 712+ views
    KSBW-TV ^ | November 7, 2007
    SACRAMENTO, Calif. -- The American Automobile Association of California said some drivers are now paying up to $5 a gallon for regular unleaded gasoline. Crude oil prices hit an all-time high Wednesday, above $98 a barrel and analysts said with worldwide oil demand rising -- it is still not clear just how high prices will go. In Salinas, AAA recorded an average of $3.39 per gallon. Santa Cruz is at an average of $3.37 per gallon. KSBW checked and found gas in Gorda, south of Big Sur, is even higher. Drivers there are paying $5 for gas. Over the past...
  • Oil industry scales back refinery plans

    06/17/2007 5:11:48 PM PDT · by Flavius · 54 replies · 1,099+ views
    ap ^ | 6/17./07 | By H. JOSEF HEBERT, Associated Press Writer
    WASHINGTON - A push from Congress and the White House for huge increases in biofuels, such as ethanol, is prompting the oil industry to scale back its plans for refinery expansions. That could keep gasoline prices high, possibly for years to come.
  • Congress should hold itself accountable for gas prices (how ethanol makes things worse)

    06/12/2007 12:11:50 PM PDT · by sickoflibs · 14 replies · 674+ views
    Baltimore Sun ^ | June 12, 2007 | James M. Taylor
    The U.S. House last week approved legislation that would make it a federal crime, complete with prison sentences of up to 10 years, for anybody to sell gasoline at prices that are "unconscionably excessive" or that take "unfair advantage" of consumers in an energy emergency. But if causing fuel to be sold at unnecessarily high prices were a crime, Congress would have no alternative but to throw itself in jail. The legislation is remarkable in that it fails to acknowledge government responsibility for much of the problem of spiking gasoline prices. While gasoline consumption is growing by more than 2...
  • Iran to build five new refineries across Asia

    06/11/2007 3:26:59 AM PDT · by Flavius · 3 replies · 530+ views
    afp ^ | 6/11/07 | afp
    KUALA LUMPUR (AFP) - Oil-rich Iran Monday announced it will help build five new refineries across Asia with a total capacity of 1.1 million barrels per day in a bid to strengthen ties in the region. "Iran has finalised feasibility studies for five refining projects in five Asian countries with a total capacity of 1.1 million barrels per day," Seyed Kazam Vaziri Hamaneh, Iran's petroleum minister said.
  • Pains at the Pump (WSJ on "Price Gouging")

    05/28/2007 8:25:27 AM PDT · by The Pack Knight · 18 replies · 1,229+ views
    The Wall Street Journal ^ | 28 May, 2007 | Editorial
    It's Memorial Day weekend and the start of the summer driving season, so naturally it's time for Congress to grandstand against $3-a-gallon gasoline. And right on cue, the House passed legislation last week to criminalize gasoline "price gouging," whatever that is. Perhaps this is all designed to distract the public from Congress's own role in raising gas prices. Under the anti-gouging law, service station owners could face up to 10 years in prison if they dare to raise their prices too much when supplies are low. Representative Bart Stupak, the Michigan Democrat who sponsored this scheme, said the vote would...
  • Top US Refineries: Energy Information Administration

    05/24/2007 7:10:43 AM PDT · by xzins · 47 replies · 2,727+ views
    DOE ^ | Jan 06 | Energy Info Admin
    U.S. Refineries Operable Atmospheric Crude Oil Distillation Capacity (Barrels per Calendar Day) as of January 1, 2006 Rank COMPANY NAME STATE SITE Barrels per Calendar Day 1 EXXONMOBIL REFINING & SUPPLY CO Texas BAYTOWN 562,500 2 EXXONMOBIL REFINING & SUPPLY CO Louisiana BATON ROUGE 501,000 3 BP PRODUCTS NORTH AMERICA INC Texas TEXAS CITY 437,000 4 CITGO PETROLEUM CORP Louisiana LAKE CHARLES 429,500 5 BP PRODUCTS NORTH AMERICA INC Indiana WHITING 410,000 6 EXXONMOBIL REFINING & SUPPLY CO Texas BEAUMONT 348,500 7 SUNOCO INC (R&M) Pennsylvania PHILADELPHIA 335,000 8 DEER PARK REFINING LTD PARTNERSHIP Texas DEER PARK 333,700 9 CHEVRON...
  • Gas Prices Hit a New Record at the Pump

    05/14/2007 10:14:50 PM PDT · by gpapa · 59 replies · 1,319+ views
    AP via Yahoo Finance ^ | May 14, 2007 | John Wilen
    NEW YORK (AP) -- Gasoline prices hit a new record at the pump on Monday, but gas futures prices fell on concerns that $3 gas will crimp demand. Oil prices, meanwhile, rose on reports of refinery problems in the U.S. and abroad.