Here is update on East coast Refinery sales / closures. If PBF had not just purchased both Valero Delaware (Fluid Coker) and NJ Paulsboro (delayed coker) Refineries – they would be idled/closed or terminals by now as well. Sunoco has also idled its Westville NJ Refinery (simple-noncoker).
Both the East Coast and West Coast anti-manufacturing and anti-oil industry positions with harsh regulations and fines will continue to increase the concentration of Gulf Coast US Refining industry & its impact when regional storms reduce capacity. The high additional gasoline cost differential for California gasoline regulations is over $1.20/gallon (without any additional profit motive for refiners) and both regions attitudes are responsible for exodus of major oil companies recently. They will be good example to the other 39 states in the US that have little or no refining capacity and rely on pipeline and import supplies to meet demand – very exposed position for crisis, natural disasters & Pipeline failures.
The 3 coastal sectors were home to the 7 states that produce 75% of total US Refinery fuel products and crude processing.
Nimby Environmental regulations and specifications run amuck will yield natural result with increasing cost and shortages to justify wholesale switch to Electric cars before the technology is commercially ready even with heavy subsidy. Even then, the US electrical system is not financially/commercially infrastructure-wise prepared to provide substations for home and road refuel sites, nor the power given the same anti-fossil focus for coal which is 60% of current US power (logical given we are Saudi’s of Coal reserves).