Here is Update Article on Hyperion with comments @ non-viability by former NPRA Terry Higgins. (see prior Hyperion 5/25/08; 5/2/08 & other Refining news coking.com post) Looks like Terry has sold out his 14 year NPRA creditability for this Hart viewpoint (bunch liberal funded/leaning anti-fossil consultants….as Argusleader folks point out).
BTW “ArgusLeader” is not same company as Argus Petcoke Report guys so dont get them confused! But Cody/Argusleader guys seem be right side this issue & point out all left leaning reasons/source for Hart/Terry’s viewpoints.
I fail to see how anyone could think US Refining capacity is long since only existing refineries have been expanded (no new ones since 1975) and demand is balanced to short (during peak periods where no surplus makeup capacity exist). South Dakota like another 39 states in US have ~ no to little refining plants and are totally dependent on P/L shipments from West Coast/Gulf Coast where 7 states provide 75% US refining capacity. No one seems concerned that potential security issues from Power Crisis or Hurricanes repeating damage to these few coastal based state producers. (Repeat gasoline supply shortages of PNW power crisis/Arizona Pipeline rupture/Katrina Gulf Coast damage/Irene East Coast damage).
This perspective depends on liberal belief that ETOH forced addition will grow to 20% by 2025, which is already unable to make 7-10% level due corn crop drought/floods, lack enough government subsidy (will get worse to get US budget balanced) and growing concern over food famine/car carburetor damage issues/conflict with goal higher MPG. Also depends on ability of Environmentalist to kill off Canadian Tar Sands Crude supplies coming to US (they seem be ok with them going to China, ect for processing – which they would if blocked).
And also depends on US Exec branch & California state push use EPA get Cap-and-Trade limits in place for Climate Change (updated name for Global Warming since its dead issue in public eyes) – all of which is/was driven by Koyota Treaty / Global Warming Environmental regulations. Koyota is almost sure bet to not be renewed in 2012 since all 18 signature countries failed to meet any lower level targets and never stood chance meeting harsh 2025 goals even with exempted power segments.
Additionally countries like Japan are now joining US stating any new agreement cannot exempt developing countries who are now current world leaders in pollutions – China, India & Russia. The past US non-Koyota / Blue Skies position – did make its environmental goals; but now will depend who is in white house 2012, but Cap-n-trade failed Congress approval, so Obama will have win State Governors Court challenges to EPA’s current attempts.
Regards