All articles tagged with #us refineries
The White House is weighing use of the Defense Production Act to boost U.S. refining capacity as domestic refineries run at about 98% utilization and diesel prices top $6 per gallon; no decision has been made, with talks focusing on expanding existing plants or improving efficiency rather than building new refineries, and a Brownsville project could be a test case for potential DPA funding.
US refineries favor Venezuelan heavy, high-sulphur crude due to their design, and restoring Venezuelan oil exports could reduce US reliance on more expensive sources, bolster the US oil industry, and serve as a geopolitical move against China, though significant investment and stability are required for a full recovery.
U.S. Secretary of State Marco Rubio highlighted the U.S.'s capability to refine Venezuela's heavy crude oil, emphasizing its strategic importance in the context of U.S. efforts to influence Venezuela's political and economic situation, with potential for increased refinery activity if Venezuela's oil exports become more reliable.