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Diane Publishing Books
Petroleum Refining: Industryńˇ╗s Outlook Depends on Market Changes and Key Environmental Regulations
Frank Rusco (au)
The U.S. petroleum refining industry -- the largest refining industry in the world -- experienced a period of high product prices and industry profits from the early 2000s through about 2007. Since the recession of 2007 to 2009, the industry has been in transition. Federal and state agencies regulate petroleum refining and the use of petroleum products to protect human health and the environment, as well as for other purposes. The Environmental Protection Agency (EPA), Dept. of Transportation (DOT), and State of California recently proposed or strengthened five key regulations, including EPA and DOT's coordinated fuel economy and greenhouse gas (GHG) vehicle emission standards, and EPA's Renewable Fuel Standard (RFS), which has required that refiners and others ensure transportation fuels include increasing amounts of renewable fuels such as ethanol produced from corn. This report examines: (1) major changes that have recently affected the domestic petroleum refining industry and (2) the future of the industry. Figures. This is a print on demand report.
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