Katrina Breaks Already-Strained Refining Industry
Charleston Gazette › September 07, 2005
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Summary
PHILADELPHIA - Even before Hurricane Katrina shattered the heart of the U.S. refining sector last week, the industry was stretched to the limit.
Growth in refining capacity has not kept pace with demand growth for years, as oil companies eliminated excess capacity that had depressed profits in the 1980s and 1990s.See the full content of this document
Extract
Katrina Breaks Already-Strained Refining Industry
Over the last 24 years, the nation's oil-refining capacity has fallen by 10 percent - while demand for gasoline, for example, is up 37 percent.
The result has been susceptibility to price spikes whe...See the full content of this document
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