Have you read about the new Motiva refinery in Texas? It’s actually a refurbished and enlarged refinery that is the largest and most modern refinery in the country. It just opened last week and has the capability to produce enough fuel to meet the needs of both France and Italy, freeing them of the threats of cut off from M.E. oil. The refinery will also be supplying gas to the Philadelphia market which has seen the shut down of almost every one of their old refineries in the past year. (One Philadelphia refinery has been on the same lot since the Civil War.)
The refinery also has the capability to switch refining processes to refine whatever type of crude is available and whatever type of product is needed, as well as a coke calcinator.
The oil and gas industry is moving the country forward despite Obama’s regulatory interference. The Keystone pipeline will make it the efforts even more successful and we all know that will happen the minute that Obama is out of office.
Could the opening of a new refinery also be a reason that oil is dropping like a rock?