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Gas Prices Still Going Up, Refineries Shutting Down
Boise Weekly ^ | March 18th | George Prentice

Posted on 03/19/2012 6:44:11 AM PDT by Halfmanhalfamazing

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."

(Excerpt) Read more at boiseweekly.com ...


TOPICS: Front Page News; News/Current Events
KEYWORDS: 2012; democrats; gasprices; nobama2012; obama; refineries; refinery; shuttingdown
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To: zeestephen
the HOVENSA refinery on St.Croix just shut down...
61 posted on 03/19/2012 8:06:57 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: G Larry
Will somebody please explain this to Bill O’Reilly?

LOL! Impossible, he's always talking.

62 posted on 03/19/2012 8:18:21 PM PDT by Balding_Eagle (Liberals, at their core, are aggressive & dangerous to everyone around them,)
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To: Rapscallion

We haven’t got genetics robust enough to stand up to nuclear fall out if a panicky liberal cabal decided to use American nukes against the American population....this isn’t the 1860’s....

It might even fit with their depopulation agenda!


63 posted on 03/20/2012 4:22:48 AM PDT by mdmathis6 (Christ came not to make man into God but to restore fellowship of the Godhead with man.)
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To: Chode

It doesn’t stop with Hovensa.

Valero to shutter Aruba refinery
http://fuelfix.com/blog/2012/03/19/valero-to-shutter-aruba-refinery/

The decline in US demand has impacts even outside our borders.


64 posted on 03/20/2012 4:49:03 AM PDT by thackney (life is fragile, handle with prayer)
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To: Spktyr
We are also a net exporter because refiners don’t want to keep dancing to the EPA’s boutique gasoline stupidity

That is not the reason for the export, as they are still supply that domestic market as well.

65 posted on 03/20/2012 4:54:12 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney
dominoes
66 posted on 03/20/2012 5:08:52 AM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: thackney

One of the workers at the BP refinery in Texas City told me that if BP can’t sell it, I think this year, they’re shutting it down.


67 posted on 03/20/2012 10:04:39 AM PDT by Terry Mross ( "It happened. And we let it happen. - Peter Griffin, Family Guy)
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To: MHGinTN

I couldn’t agree more. I have no idea what it would take to get “we the people” to go into action, but I don’t think obama staying the white house illegally would do it. He’s there illegally now and we haven’t done anything.


68 posted on 03/20/2012 10:12:02 AM PDT by Terry Mross ( "It happened. And we let it happen. - Peter Griffin, Family Guy)
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To: Kenny Bunk

For those who think high gasoline prices are an American problem, a problem that politicians should be doing something to “fix”, a problem that should be “fixed” by taking some kind of actions against American oil companies; the following points of interest are offered:

Today in China - still a low wage developing economy for most of its people, retail gasoline prices are $4.53 a gallon.

http://www.latimes.com/business/money/la-fi-mo-china-gas-20120320,0,670317.story

The vast majority of the worlds oil reserves are owned and controlled by state owned companies. The portion of the worlds oil reserves owned by United States oil companies is about 2 1/2 percent.

http://www.petrostrategies.org/Links/Worlds_Largest_Oil_and_Gas_Companies_Sites.htm

Big U.S oil companies earn the large sums they do NOT because they control so much oil in the world, but because they are trying to deliver oil and oil related products to the most oil-thirsty consumer market - the U.S.

U.S, oil companies own so little of the world’s oil reserves and the U.S. market is so thirsty for oil and it is such a large market that global demands and global events and global concerns about the oil supplies, not greedy U.S. oil companies, will perenially affect U.S. gasoline prices.

ExxonMobiles profits for 2011 amounted to a little over 12 cents on the dollar, in an industry that has some of the largest capital requirements in the world. They pay more in taxes than they keep in profits.

http://www.finanalys.com/?p=169


69 posted on 03/20/2012 11:05:40 AM PDT by Wuli
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To: Wuli

Part of the challenges for company like ExxonMobil is they buy more oil than they produce themselves. Their refining throughput is over twice their crude oil production.


70 posted on 03/20/2012 11:44:46 AM PDT by thackney (life is fragile, handle with prayer)
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