Energy Tomorrow Blog
Posted October 2, 2019
When it comes to motor fuels, the prices we pay at the pump historically reflect crude oil prices – the No. 1 input cost according to the U.S. Energy Information Administration (EIA) – as well as the relative prices of other products, which collectively motivate refiners to manufacture different fuels.
We’ve seen through the energy revolution – and especially since 2015 – how lower prices for crude oil and natural gas (a key processing fuel and operating expense for refiners) have advantaged the U.S. petroleum refining industry – and ultimately led to lower fuel prices for consumers at home and abroad.
Posted January 31, 2017
One of the most technologically advanced industries in the world, the U.S. refining sector is the essential link between America’s crude oil wealth and the fuels and countless consumer products we depend on every day.
Posted July 14, 2014
CNBC: The United States is swimming in oil and gas. But processing the new-found bounty is posing a challenge to U.S. refiners, which can't come to grips with the abundance in domestic supply.
A production renaissance has catapulted the United States into the upper strata of global energy producers. Yet with fewer than 150 refineries, the U.S. has a surprisingly limited capacity to process the bounty.
"Some refineries are better suited for light sweet crude," while others—primarily on the Gulf Coast—are better optimized for the heavier, international variety of oil, said Bob Greco, director of upstream operations for the American Petroleum Institute.
The huge increase in shale production in places like North Dakota is helping to revitalize East Coast refineries, Greco said in an interview.
Posted February 22, 2012