Massive Oil Refinery On Track To Shut Down Amid Fuel Supply Shortages, Record Prices

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Daily Caller

A key Texas petroleum refinery that produces more than 200,000 barrels of fuel per day is facing a premature shutdown that could increase pressure on domestic fuel supplies.

The Houston, Texas, facility — which is operated by LyondellBasell Industries, spans 700 acres and was built in 1918 — is scheduled to permanently close by the end of 2023, but could shut down earlier if a “major equipment failure” spreads to major units, two people familiar with the issues told Reuters. The refinery processes 268,000 barrels per day (bpd) of oil and produces 92,600 bpd of diesel fuel, 89,000 bpd of gasoline and 44,500 bpd of jet fuel.

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Biden utilizes Defense Production Act for solar panels?

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Sorry America, Oil Is As Secure As It Gets

 

American consumers are still suffering from record gasoline prices as the summer driving season kicks off. President Biden recently proclaimed that these prices were driving an “incredible transition” that will make the world “stronger and less reliant on fossil fuels.” The unfortunate reality is that oil is as secure as it gets. America should expand production of cleaner alternatives, but it is dangerous to expect more security from sources far less flexible and far more tenuous than America’s oil supplies.

Although burning oil causes pollution, the great advantage of oil is its energy density. Little space is needed to fit much energy, which makes it easy to transport and store. Oil is the energy you can carry with you. That’s why oil provides virtually all the energy for international shipping and travel, powering airplanes and vessels that make our global economy possible.

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