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Author	Topic: Refinery sales in Northeast U.S. is concerning	Post a Reply Back to Topics

PD Moderator	Message Posted: Jan 16, 2012 9:45:52 AM Ignore PD Report Abuse Motorists in the Northeast should be aware that a large amount of refining capacity is up for sale, and could impact local gasoline, diesel, and jet fuel prices in the future. Pending the outcome of sales, the refineries may continue operation or could be idled, resulting in much tighter supply of products, and higher prices for consumers. According to the EIA, three refineries that compromise over 50% of the refining capacity in the Northeast are up for sale, with two of these facilities already idled. It's easy to see in our weekly EIA reports that production in the Northeast has taken a hit, with utilization rates in the 50-60 percentile, vs the national average of 80-88%. Last fall, Sunoco decided to offer for sale... Visit GasBuddy Blog for full article

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Message Posted: Jan 16, 2012 9:45:52 AM

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Motorists in the Northeast should be aware that a large amount of refining capacity is up for sale, and could impact local gasoline, diesel, and jet fuel prices in the future. Pending the outcome of sales, the refineries may continue operation or could be idled, resulting in much tighter supply of products, and higher prices for consumers.

According to the EIA, three refineries that compromise over 50% of the refining capacity in the Northeast are up for sale, with two of these facilities already idled. It's easy to see in our weekly EIA reports that production in the Northeast has taken a hit, with utilization rates in the 50-60 percentile, vs the national average of 80-88%.

Last fall, Sunoco decided to offer for sale...

Visit GasBuddy Blog for full article

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honda0105 Champion Author Tallahassee Posts:18,610 Points:1,608,545 Joined:Nov 2008	Message Posted: Jan 20, 2012 3:16:33 AM Ignore honda0105 Report Abuse it costs money to run and upkeep refineries, something Pig Oil doesn't want to do b/c it cuts into the profits.
Vette1967 Champion Author Albany Posts:5,962 Points:1,275,025 Joined:Jun 2009	Message Posted: Jan 17, 2012 5:40:43 PM Ignore Vette1967 Report Abuse Its patriotic to have refineries here in the States so not rely on other countries to do it.
gasokie Champion Author Oklahoma Posts:3,444 Points:1,324,520 Joined:May 2007	Message Posted: Jan 17, 2012 11:39:21 AM Ignore gasokie Report Abuse Not much glamor in operating a refinery. Nasty. Stinks. Everyone hates you...especially those in the neighborhood. When investors find they can make better money (return) they go elsewhere. There isn't much profit in refining these products and sometimes I wonder why the oil companies even mess with it--especially up in the NE where the government is on your case all the time for existing. And when you consider how much more money there is in other aspects of the energy business.....like If you're solar, Obama even gives you money...other people's but spendable just the same. And we wonder why we have an energy problem.
ttoyota Champion Author Boston Posts:1,561 Points:119,935 Joined:Sep 2011	Message Posted: Jan 17, 2012 9:05:25 AM Ignore ttoyota Report Abuse oil/gas co always show a huge profit,always!!!
ttoyota Champion Author Boston Posts:1,561 Points:119,935 Joined:Sep 2011	Message Posted: Jan 17, 2012 9:04:31 AM Ignore ttoyota Report Abuse two dollar!!!
tomok Champion Author Portland Posts:32,987 Points:2,344,535 Joined:Aug 2006	Message Posted: Jan 16, 2012 11:25:25 PM Ignore tomok Report Abuse With the huge profits Big oil and refineries are making, is this another way to gouge the driving public? Big oil and refineries continue to ‘export’ fuel and natural gas to other countries! US natural resources that belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump. Produce and ‘drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! 12/22/2012!
Zonk Champion Author Michigan Posts:6,481 Points:2,102,015 Joined:Oct 2005	Message Posted: Jan 16, 2012 9:30:04 PM Ignore Zonk Report Abuse One way to keep prices up.....close the refineries.
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Jan 16, 2012 9:17:59 PM Ignore tippybuddy Report Abuse I don't think I'd even bid a 1.00 for one...no matter what anyone does the prices keep rising///
carpenter4u Champion Author Virginia Posts:2,436 Points:615,645 Joined:Jul 2011	Message Posted: Jan 16, 2012 9:12:40 PM Ignore carpenter4u Report Abuse Can't make money if they take it all away
judgemobile Champion Author Ohio Posts:7,570 Points:2,445,135 Joined:Nov 2005	Message Posted: Jan 16, 2012 9:09:48 PM Ignore judgemobile Report Abuse I would buy the refinery--I bid ONE DOLLAR.
toadNY Champion Author Albany Posts:7,042 Points:1,513,150 Joined:Apr 2008	Message Posted: Jan 16, 2012 9:09:31 PM Ignore toadNY Report Abuse calling China! They have the money an Cheap labor.
regout Champion Author Quebec Posts:2,950 Points:831,730 Joined:May 2010	Message Posted: Jan 16, 2012 9:07:53 PM Ignore regout Report Abuse Anything to rise the price.
jetskijerry Champion Author North Carolina Posts:3,891 Points:771,295 Joined:Mar 2011	Message Posted: Jan 16, 2012 9:05:06 PM Ignore jetskijerry Report Abuse Buy it
1cheapgasin Champion Author Indianapolis Posts:5,559 Points:1,209,740 Joined:Jul 2009	Message Posted: Jan 16, 2012 9:04:19 PM Ignore 1cheapgasin Report Abuse Figures.
kgbellman Champion Author Ann Arbor Posts:2,713 Points:731,840 Joined:Mar 2011	Message Posted: Jan 16, 2012 9:03:40 PM Ignore kgbellman Report Abuse that's scary
Geo4564 Champion Author Nevada Posts:6,917 Points:1,568,420 Joined:Aug 2007	Message Posted: Jan 16, 2012 9:02:51 PM Ignore Geo4564 Report Abuse Finance 101 - Buy the competition & close them down.
DrCashFlow Champion Author Massachusetts Posts:7,064 Points:1,626,250 Joined:Jun 2008	Message Posted: Jan 16, 2012 8:59:29 PM Ignore DrCashFlow Report Abuse it's going to get worse
CdnLynx Champion Author Ontario Posts:1,021 Points:523,150 Joined:May 2008	Message Posted: Jan 16, 2012 8:58:42 PM Ignore CdnLynx Report Abuse Economists have for ages stated "Supply and Demand". So why now; economic engines run on the need for fuel, so why are they cutting the refining. It's happening across N. America. I believe it was June 2010, Shell closed their Montreal refinery. What is the petroleum industry up to?
danreino Champion Author Twin Cities Posts:8,348 Points:1,539,755 Joined:Mar 2008	Message Posted: Jan 16, 2012 8:58:21 PM Ignore danreino Report Abuse Disgraceful and embarrassing.
bonzoonfmb Champion Author Florida Posts:1,782 Points:643,835 Joined:Feb 2010	Message Posted: Jan 16, 2012 8:56:31 PM Ignore bonzoonfmb Report Abuse Supply goes to highest bidder always.
blazerbob91 Champion Author Milwaukee Posts:6,140 Points:1,882,695 Joined:Aug 2005	Message Posted: Jan 16, 2012 8:53:57 PM Ignore blazerbob91 Report Abuse We are driving less, getting better gas milage, what do you expect.
bobdec Champion Author Miami Posts:8,959 Points:1,768,845 Joined:May 2008	Message Posted: Jan 16, 2012 8:53:55 PM Ignore bobdec Report Abuse Another way to rsise prices
hobbs517 Sophomore Author Ohio Posts:124 Points:160,185 Joined:Dec 2010	Message Posted: Jan 16, 2012 8:53:34 PM Ignore hobbs517 Report Abuse Interesting
SparkieMi Champion Author Kalamazoo Posts:3,258 Points:587,875 Joined:Sep 2011	Message Posted: Jan 16, 2012 8:51:03 PM Ignore SparkieMi Report Abuse Interesting post granitestater
rf6480 Champion Author Miami Posts:1,534 Points:547,055 Joined:Mar 2011	Message Posted: Jan 16, 2012 8:49:15 PM Ignore rf6480 Report Abuse Not just a NE problem. So from the little I read time yo boycott Sunoco
HYEgasCA Champion Author Fresno Posts:2,111 Points:910,000 Joined:Dec 2008	Message Posted: Jan 16, 2012 8:47:05 PM Ignore HYEgasCA Report Abuse The sellers are regulated to death.
tidalwave3 Champion Author Tallahassee Posts:1,302 Points:1,462,810 Joined:Jun 2008	Message Posted: Jan 16, 2012 8:44:13 PM Ignore tidalwave3 Report Abuse This is a disaster in the make and where is Lord Nobama?
darkknight1 Champion Author Winston-Salem Posts:4,335 Points:895,085 Joined:Nov 2010	Message Posted: Jan 16, 2012 8:40:30 PM Ignore darkknight1 Report Abuse Just another excuse imho for prices to stay high
OOXXFF Champion Author Greensboro Posts:3,058 Points:1,078,430 Joined:Sep 2009	Message Posted: Jan 16, 2012 8:39:55 PM Ignore OOXXFF Report Abuse Not good!!!!!
w9med Champion Author Gary Posts:1,128 Points:327,845 Joined:Aug 2011	Message Posted: Jan 16, 2012 8:38:36 PM Ignore w9med Report Abuse Anyway to profit at the expense of middle class
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Jan 16, 2012 8:38:13 PM Ignore iceman11 Report Abuse ok
granitestater Champion Author New Hampshire Posts:8,824 Points:1,430,750 Joined:Oct 2008	Message Posted: Jan 16, 2012 8:30:53 PM Ignore granitestater Report Abuse Profit per SHARE isn't so great for oil companies. The looney left only looks at total profit. Drug companies make billions. But if you want to look at high profit per share. Look at COSMETIC companies.
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Jan 16, 2012 8:28:18 PM Ignore mstearno Report Abuse they controll supply
monarch57 Champion Author British Columbia Posts:1,627 Points:135,640 Joined:Nov 2008	Message Posted: Jan 16, 2012 8:27:59 PM Ignore monarch57 Report Abuse We need more refineries not less with increased demand. Are they trying to put us in a depression.
CindieAZ Rookie Author Phoenix Posts:1 Points:1,125 Joined:Jan 2012	Message Posted: Jan 16, 2012 8:27:50 PM Ignore CindieAZ Report Abuse GREAT!!!
FlogNut Champion Author Chicago Posts:104,325 Points:1,987,675 Joined:Oct 2007	Message Posted: Jan 16, 2012 8:23:41 PM Ignore FlogNut Report Abuse Aren't refineries just a way to print cash? Since many here seem to agree that refineries make obscene profits at our expense why would any sane person/corporation close one (let alone 3) down? Or is it possible that they don't really make as much of a profit as we think?
gatorgal46 Champion Author Florida Posts:1,449 Points:439,675 Joined:Jun 2011	Message Posted: Jan 16, 2012 8:23:28 PM Ignore gatorgal46 Report Abuse very strange .....
30mpg80 Champion Author Lexington Posts:10,019 Points:1,486,880 Joined:Nov 2008	Message Posted: Jan 16, 2012 8:21:59 PM Ignore 30mpg80 Report Abuse Weird stuff
VetteFan Champion Author Indiana Posts:9,739 Points:2,028,480 Joined:Aug 2005	Message Posted: Jan 16, 2012 8:19:53 PM Ignore VetteFan Report Abuse Well, we'll hope they keep operating. No one needs higher fuel costs.
SilliesRock Champion Author Detroit Posts:2,186 Points:1,161,950 Joined:Oct 2008	Message Posted: Jan 16, 2012 8:16:27 PM Ignore SilliesRock Report Abuse Great. What else can go wrong?
Lukus Champion Author Halifax Posts:8,279 Points:1,674,375 Joined:Nov 2007	Message Posted: Jan 16, 2012 8:11:04 PM Ignore Lukus Report Abuse OK
silverbullet90 All-Star Author Florida Posts:834 Points:315,305 Joined:Apr 2011	Message Posted: Jan 16, 2012 8:10:14 PM Ignore silverbullet90 Report Abuse Ok
rmgsara Champion Author Maine Posts:1,730 Points:296,945 Joined:Mar 2011	Message Posted: Jan 16, 2012 8:05:28 PM Ignore rmgsara Report Abuse hmmm
us4usa Champion Author Missouri Posts:5,987 Points:1,112,310 Joined:May 2008	Message Posted: Jan 16, 2012 8:03:06 PM Ignore us4usa Report Abuse These Refineries are geared for high dollar export oil, not cheap US oil... With the US finding more oil, you would think they would have switch these refineries to US oil??? Don't worry the CEOs will still make millions for closing these refineries... And the Northeast you will lose millions at the pumps...
kcboy Champion Author Utah Posts:3,963 Points:1,506,825 Joined:Jun 2005	Message Posted: Jan 16, 2012 8:00:17 PM Ignore kcboy Report Abuse Wow interesting hope that some thing can be done soom with the purchase.
1Casey Champion Author Albany Posts:6,528 Points:1,791,785 Joined:Jun 2004	Message Posted: Jan 16, 2012 7:56:45 PM Ignore 1Casey Report Abuse Government issues ?
abcdMA Champion Author Worcester Posts:7,922 Points:1,574,980 Joined:Nov 2008	Message Posted: Jan 16, 2012 7:55:57 PM Ignore abcdMA Report Abuse anyone want to try a joint venture
MizB Champion Author Sacramento Posts:1,911 Points:546,800 Joined:Apr 2006	Message Posted: Jan 16, 2012 7:47:12 PM Ignore MizB Report Abuse melvindale--Bravo! Good post.
carman11 Champion Author North Carolina Posts:3,337 Points:691,725 Joined:Jun 2011	Message Posted: Jan 16, 2012 7:46:20 PM Ignore carman11 Report Abuse Interesting!!
sillywagon Champion Author New York Posts:14,883 Points:1,440,370 Joined:Oct 2008	Message Posted: Jan 16, 2012 7:45:40 PM Ignore sillywagon Report Abuse Unlike Government, unprofitable businesses cannot stay in business. I wonder why these refineries couldn't export refined oil products to stay in business? But many people object to that as well. Why are businesses supposed to be altruistic and not make money?