Publications: Notes at the Margin

PADD I Refining: Sic Transit Gloria (December 5, 2011)

 

This Notes at the Margin covers two topics along with the usual market analysis. The first focuses on the implications of further East Coast refinery closures and impending shutdowns of European refineries. The second provides a crude price scenario should EU economies collapse. In the first section, we suggest that additional East Coast refinery closings could lead to very high gasoline prices in the region next summer, just in time for the presidential conventions. In the second, we discuss how a government failure to resolve the euro crisis before Christmas could deflate economic expectations and prompt a serious oil price decline.

 

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