The U.S. Energy Information Administration (EIA) released a report today that confirms what the USW has been saying about the impact of shutting down the ConocoPhillips and Sunoco Philadelphia-area refineries: supplies of oil products could be negatively impacted with accompanying price volatility and spikes.
Refineries in the Northeast supplied about 40 percent of the region’s gasoline sales and 60 percent of distillate (diesel fuel and heating oil) sales in 2010, the report said. About half of this supply came from the three refineries that could be shut down permanently.
“The EIA’s report indicates a number of ways that oil product supplies and pricing for the Northeast could be negatively affected,” said USW International Vice President Gary Beevers. “Northeast consumers deserve a stable supply of gasoline, heating oil and diesel without price spikes. There is definitely money to be made by keeping these three refineries open ... more