GDPNow: link here.
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Back to the Bakken
The Far Side: link here.
Active rigs: 43.
WTI: huge build reported by API yesterday, and WTI is up almost a buck today; trading at $76.03.
Natural gas: $3.706.
Thursday, January 12, 2023:
38735, conf, Hess, EN-Anderson-156-94-1819H-2,
37564, conf, Petro-Hunt, Jorgenson 158-94-12C-1-1HS,
27882, conf, CLR, Jersey Federal 20-6H2,
Wednesday, January 11, 2023:
27880, conf, CLR, Jersey Federal 18-6H,
RBN Energy: could a proposed EPA rule spur more refinery closures? Part 2. Archived.
Since 2019, more than 1.3 MMb/d of U.S. refinery capacity has been either shut down for economic reasons or converted to renewable diesel production. The decline in the nation’s ability to produce gasoline and diesel hampered the refining sector’s response to the post-COVID demand recovery and exacerbated the big run-up in motor fuel prices that followed Russia’s invasion of Ukraine last February, 2022.
Now, there may be a new threat to U.S. refining, namely the possibility that a proposed Environmental Protection Agency (EPA) rule on hydrofluoric-acid-based alkylation could, over time, spur an even larger round of refinery closures. In today’s RBN blog, we continue our look at alkylate — a critically important part of the U.S. gasoline pool — the prospective regulation and its possible effects.
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