Friday, February 11, 2022 3:56 am. More than 1 million barrels a day of the country's oil refining capacity or about 5% overall has shut since the beginning of the pandemic. US governments accomplished this through various methods, including increasingly restrictive environmental regulations. On Thursday, Lyondellbasell Industries announced its plans to shut down its Houston Oil refinery by 2023 permanently. The plant was sold to a Jamaican oil storage facility in December 2021. read more. Additionally, refining investment is still underway. Things are fine everywhere else, right?. Three of the refineries in question were run by the largest US refiner of crude oil, Marathon Petroleum, while one was run by Shell and the other by independent HollyFrontier, illustrating the fact that this is an issue which cuts across operators and impacts the industry as a whole. The bottom line here is that this is a problem that has been a long time coming. There were other disasters around the same time. With gas prices surging past $5.00 a gallon, many Americans are wondering what is the problem. Follow this author to stay notified about their latest stories. Santa Rosa resident Alex Prince said it gave him hope that the cost of driving would be more affordable by Halloween. It has been largely driven by the federal governments own actions and it is one about which no one at the federal level has appeared to much care for more than 40 years now. Neste, having ceased refining operations at the Naantali refinery in Finland, announced plans to develop the Porvoo refinery in their own words - "towards co-processing renewable and circular raw materials.". Second-largest Valero Energy Corp is targeting between 85% and 88%, down from 97% last quarter. That would be a pretty clear antitrust violation, Borenstein said. The oil company's Santa Maria Refinery has about 110 . Click to become an INSIDER for under $2.00 a week. Fire smolders at an oil refinery that triggered several large explosions at the Philadelphia Energy Solutions Refining Complex on June 21, 2019. You can received notifications daily or weekly. HollyFrontier Corp said in June 2020 it would convert its Cheyenne refinery into a renewable diesel plant that would produce 6,000 bpd of renewable diesel. Diesel fuel supplies have hit all-time lows on the East Coast and gasoline prices have soared to multiple records in recent weeks. A bit of Bible, A bit of Life, A bit of Politics, Survey: Plurality Blame Joe Biden for High Gas Prices, Biden Presses Oil Industry to Increase Production as Refineries Already Running at Full Capacity, Eleven US gas refineries closed over the past 2 years OpentheWord.org New Human New Earth Communities, https://openthewordblog.files.wordpress.com/2023/02/98-miraculous-healing-of-3-month-old-baby.mp3, https://openthewordblog.files.wordpress.com/2019/10/nulearaudiopodcast.mp3, https://openthewordblog.files.wordpress.com/2019/09/failuretoequip.mp3, https://openthewordblog.files.wordpress.com/2019/09/arkofcovpodcast.mp3, https://openthewordblog.files.wordpress.com/2019/08/podcast2-vision.mp3, https://openthewordblog.files.wordpress.com/2019/08/podcastvision-1.mp3, https://openthewordblog.files.wordpress.com/2019/08/podcastasteroidupdate-2.mp3, https://openthewordblog.files.wordpress.com/2019/07/20inheritingsin.mp3, https://openthewordblog.files.wordpress.com/2019/05/19-2060adsirisaacnewton.mp3, https://openthewordblog.files.wordpress.com/2019/04/18-spiritualwarfare-2.mp3, https://openthewordblog.files.wordpress.com/2019/03/whatareterritorialspirits-1.mp3, https://openthewordblog.files.wordpress.com/2019/03/narcissisimandthechurch-1.mp3, https://openthewordblog.files.wordpress.com/2019/03/andybeckerhealing-1.mp3, 21% blamed the Russian invasion of Ukraine and resulting sanctions; and. Learn how your comment data is processed. The refinery that subsequently grew at the junction of the Delaware and Schuylkill Rivers today occupies 1,300 acres of urban South Philadelphia landscape, an area that is larger than the. Pledges Additional $2 Billion In Security Assistance To Ukraine, Three Fires At Pemex Facilities In One Day, Native Americans Urge Biden To Halt Offshore Wind Permitting, High Energy Prices Force Worlds Largest Chemicals Company To Cut Jobs, U.S. But the continued decline in domestic refinery capacity could signal long-term domestic fuel supply shortfall, Reuters reported. This proved not to be the case in February of this year, however, when unseasonably freakish arctic weather temperatures dropped as low as -13C in Austin, -15C in Dallas and -23C in Amarillo led to the largest refineries in North America having to be shut down across the state. The Houston Refinery is currently operating as planned, LyondellBasell said in a statement Tuesday to The Daily Caller News Foundation. Hurricane Ida shuttered or curtailed output at six refineries in Louisiana that process 1.92 million barrels per day (bpd) of crude, around 12% of U.S. refining capacity. The evidence for the impact of the pandemic on the sector is widespread and undeniable. The long term aim is for the company to achieve carbon neutrality by 2050. What the letter does not recognize, of course, is the role the federal government, pressured by climate change interest groups, has played in creating the current shortage of domestic refining capacity. No profanity, hate speech or personal attacks. This would be the latest step in wider moves to shift the company as a whole onto a more environmentally sustainable footing, with two other refineries in Italy already having undergone a similar conversion. Experts say ongoing fears of a recession had been pushing down gas prices on a global level during the past several months. Well, it turns out a lot of people need refined products," says Blanch. Fire broke out in the early morning that triggered a vat of butane to ignite with an explosion so large that it was detected from space. Sadly, it always seems to take a crisis for politicians to begin to wake up to the folly of their own actions. Given the highly-ideological nature of this administration and the fact that most of APIs suggestions would conflict with Bidens Green New Deal-based agenda, most if not all of them are likely to fall on deaf ears. var write_html = `