07 Mar '12, 1pm

Peak Oil Crisis: East Coast Refineries Redux

Peak Oil Crisis: East Coast Refineries Redux

It has been six weeks since we last discussed the problems that could be in store for the U.S.'s East Coast due to closing of refineries in the Philadelphia area. Last week, the U.S. Department of Energy issued a second, more detailed report on what could happen to the availability of oil and prices in the event the third and largest of the three Philadelphia refineries in question be forced to close down this coming July. In contrast with most DoE reports, this one contains a clear, unambiguous warning that there likely will be serious troubles later this year and on into 2013 in the form of local shortages and higher prices for gasoline and other oil products. To recap the problem, two of the nine East Coast refineries with a capacity of 363,000 barrels a day (b/d) have recently been closed down. Sunoco which owns a large Philadelphia area refinery (with a capacity of 33...

Full article: http://www.postcarbon.org/article/745219-the-peak-oil-cri...

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