An air of uncertainty
As gasoline prices soar, the creaking US refinery system is once more under fire. Although today's healthy margins should encourage new investment, unresolved issues of green regulation appear to be curbing this. David Watkins investigates
The US refinery space is currently under close scrutiny as the country enters the high gasoline demand summer driving season. Yet even before the driving season gets under way, refined product prices have surged on a wave of unplanned refinery outages and lower imports, which have left US refineries struggling to cope with demand. The Energy Information Administration's US national average retail gasoline price reached all-time highs in mid-May, reaching 310.3 cents/gallon, surpassing records
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