March 2008

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HPIn Brief

US energy market outlook The US Government Accountability Office (GAO) has recently been tasked to evaluate trends in the international trade of pe..

Weirauch, Wendy, Hydrocarbon Processing Staff

US energy market outlook The US Government Accountability Office (GAO) has recently been tasked to evaluate trends in the international trade of petroleum products, international and US refining capacity, and domestic petroleum supply infrastructure. For most of the past 25 years, there has been excess global refining capacity. This surplus has shrunk considerably in recent years as demand has increased faster than capacity growth, causing refineries to run closer to their production capacity. Experts are unclear whether or for how long the current market tightness will continue, in part because of uncertainti

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