Publications: Notes at the Margin

Thirty to Forty US Refineries Must Close by 2020 (May 14, 2012)

 

The Department of Energy’s Energy Information Administration reports that 148 refineries operate in the United States. Eight years hence, the number will drop to around 100. Roughly, one-third of active refineries will close. The shutdowns will occur for two reasons. First, US petroleum product demand will drop sharply as conservation and renewable fuel use reduce oil consumption. Second, the austerity programs pushed on the economies of Europe and the United States and the one continuing in Japan will also cut oil use.

 

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