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Gasoline refinery profits could fall to zero later this year amid ample refining capacity and...

Gasoline refinery profits could fall to zero later this year amid ample refining capacity and declining consumption in North America and Europe, BofA ML says: "The refining complex will need to see the shutdown of at least another 2M bbl/day of refining capacity before refinery utilization rates nudge back up" toward 2004-08 levels.
Comments (2)
  • dromar
    , contributor
    Comments (2) | Send Message
     
    Why not keep the refineries running and decrease the price of gas. Is it really profitable for the consumer to shut more down?
    14 Jun 2012, 10:00 AM Reply Like
  • kmi
    , contributor
    Comments (4234) | Send Message
     
    Refineries in the US are private businesses which make money on the difference between crude and refined products.

     

    If they can't make money they have no reason to operate. The consumer is not their concern.
    14 Jun 2012, 10:45 AM Reply Like
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