Subscribe | Register | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
US shale response to oil price boost may be muted
Behind the rig count data lie differences between public and private operators, acreage questions, the lure of returns and unwavering capital discipline
US Gulf continues to refine hurricane response
Another Atlantic hurricane season is well underway and expected to peak in September, while the oil and gas industry on the US Gulf Coast continues to watch the weather with caution
US SPR squeezes Saudi economy
Action by consuming governments has shown they can significantly affect oil prices and put a spoke in OPEC’s wheels
Kosmos unfazed by Greater Tortue Ahmeyim delay
Postponement of large LNG project does not seem to have derailed Kosmos’ expansion or capex plans
US SPR faces existential crisis
As the 50th anniversary of the Arab oil embargo approaches, policymakers gripped by energy security fears must start rethinking the purpose of emergency oil stocks
Rio Grande lights the way for US LNG
Texas export facility’s remarkable turnaround will give fresh hope to other gas projects looking to secure FID
Iran’s crude increases raise US, OPEC+ questions
A tight sour oil market and a reluctance by Washington to take a hard line could allow the OPEC producer to keep testing boundaries, but for how long?
Gibson buys Texas terminal amid bullish outlook for US oil exports
Growing global thirst for light sweet crude contrasts with potential refining decline and risks of inland infrastructure bottlenecks at home
Will US LNG stampede lead to costly overbuild?
The US’ emergence as the world’s largest LNG producer is good news for gas-hungry Europe, but the project pipeline raises questions about how much capacity will be needed
US oil and gas sector facing insurance challenges
The market has hardened significantly, but there are strategies energy companies can employ to mitigate its impact
US fuel prices have surged in recent weeks
US Refining Transport fuel
Charles Waine
11 July 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Biden clashes with US refiners over fuel prices

Attacks on the downstream fail to weigh capacity losses

Road fuel prices in the US have surged in recent weeks, just in time for driving season. But accusations from President Joe Biden that the domestic refining sector is flunking its “patriotic duty” through post-Ukraine invasion price gouging fail to tell the full story. For weeks the president has ignored reality on the ground, demanding oil producers increase supply and refiners raise spare capacity. This is despite downstream utilisation rising to 95pc by the end of June, the highest level since 2019 and arguably unsustainable for long considering maintenance and downtime needs. “It is obviously a very tight inventory situation,” says Mike Hennigan, CEO at Ohio-based refiner Marathon Petrol

Also in this section
Letter from Calgary: World’s energy contradictions in microcosm
Opinion
29 September 2023
This year’s WPC laid bare the dilemma facing the energy industry and the world at large, with warnings about the dangers of underinvestment in fossil fuels given the immaturity of alternatives
Libya targets 2m b/d oil before 2030
28 September 2023
Oil minister Oun sends out cautiously optimistic message on oil and gas outlook and says pilot project ready to unlock huge shale reserves key to further growth
Asian gas industry group counts on rising demand
27 September 2023
Regional industry body ANGEA remains bullish about Asia's adoption of gas and LNG, despite elevated prices and logistical challenges
How the Yom Kippur war changed OPEC
26 September 2023
Half a century after the 1973 conflict, the world is dramatically different. But OPEC’s power remains

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2023 The Petroleum Economist Ltd
Cookie Settings
;

Search