Shuttered U.S. Oil Refineries May Never Restart

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As refineries close due to obsolescence or sabotage, the policy war against them virtually assures that they will never be reopened; and there hasn’t been a new refinery built in 50 years. The multi-generational war on oil will eventually force combustion engines into oblivion as prices of remaining products continue to rise. ⁃ TN Editor

U.S. energy executives told Jennifer Granholm that shuttered crude oil refineries won’t restart, Valero’s Chief Executive Joe Gorder said on Tuesday.

The comments were made to the U.S. Energy Secretary at a recent White House meeting with energy executives, Reuters reported on Tuesday.

“The one interesting thing that came out of it, too, was there was consideration for the ability to restart refining capacity that had been shut down, and I think the general sentiment was that wasn’t going to happen,” Gorder said.

Limited U.S. refinery capacity—and perhaps more critically, refinery capacity in specific U.S. geographic areas, known as PADDs—has spared worry in the United States over high gasoline prices and energy security.

US refinery run rates were north of 90% for much of the summer, according to the EIA’s Weekly Petroleum Status Report.

Shuttered refineries unlikely to start back up are the latest nail in the U.S. refinery coffin. In June, Chevron CEO Mike Wirth posited that there would never be another new refinery built in the United States.

“Building a refinery is a multi-billion dollar investment. It may take a decade. We haven’t had a refinery built in the United States since the 1970s. My personal view is that there will never be another refinery built in the United States,” Wirth said at the time.

Oil and gas companies would have to weigh the benefits of committing capital ten years out that will need decades to offer a return to shareholders “in a policy environment where governments around the world are saying ‘we don’t want these products to be used in the future,’” Wirth added.

Refinery utilization in the United States for the week ending October 14 was 89.5% of their operable capacity, the most recent EIA data shows.

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About the Editor

Patrick Wood
Patrick Wood is a leading and critical expert on Sustainable Development, Green Economy, Agenda 21, 2030 Agenda and historic Technocracy. He is the author of Technocracy Rising: The Trojan Horse of Global Transformation (2015) and co-author of Trilaterals Over Washington, Volumes I and II (1978-1980) with the late Antony C. Sutton.
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[…] Read More: Shuttered U.S. Oil Refineries May Never Restart […]

S. Bigelo

We have some of the largest refineries in the Corpus Christi, Texas coastal area that has been there since before I was born almost 80 yrs ago. To think our Governor Abbott is doing nothing about this is unbelievable. However, since he is a member of WEF, I’m sure this is why. Voters don’t seem to know the truth about this guy and why they keep voting him into office every time he runs. This is another reason we have border problems because he has never done anything about it. I can see why knowing he is married to a… Read more »

[…] Shuttered U.S. Oil Refineries May Never Restart […]