A tsunami of change awaits US refiners A tsunami of change awaits US refiners, according to a recent report from Deloitte (www.deloitte.com). Citin..
A tsunami of change awaits US refiners
A tsunami of change awaits US refiners, according to a recent report from Deloitte (www.deloitte.com). Citing a confluence of factors that will have an adverse effect on the refining industry (increased fuel economy standards for cars, renewable fuel mandates and cap-and-trade legislation), Deloitte projects that these factors "have turned the future demand curve for gasoline—the most significant product from most US refineries—upside down." Deloitte leans on the EIA to make its point, citing projections that show the US refining industry's utilization rate sliding to 78.
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