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Risky Business
Headline: Refinery Closure Risk Downplayed
Kevin Lindemer, president of the Groton, Mass., Kevin J. Lindemer LLC consultant group, was hired by the Pennsylvania Petroleum Marketers and Convenience Store Association to analyze the impact of the shutdowns of ConocoPhillips Trainer and Sunoco’s Marcus Hook and Philadelphia facilities.
“The net effect of the announced changes in refining and logistics system capacity is likely to result in little impact on summer or winter refined products supply or prices in the U.S. East Coast market with the possible exception of Southwest Pennsylvania,” Lindemer concluded.Hey, that's us!
posted by Spencerblog at
8:03 AM
2 Comments:
Whoops... Methinks we're in the Southeast of this great Commonwealth,not in the Southwest... That said, what has not been widely reported is the announcement of Hovensa, a 50/50 jointly owned refinery (Venezuala's oil operation and Hess Oil of the US) to close their refinery in St. Croix. The Chavez regime provided the crude and Hess distributed the product, mainly to the east coast. So with Conoco, Sunoco Marcus Hook and Philly closing at the same time, there is bound to be a reduction in the available supply of refined products in these here parts...
Nice catch, Charlie. I misread it.
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