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Governor Gavin Newsom claims oil companies are price gouging, which is the reason that gasoline prices are almost $2 more than the national average price in his state. Californians are paying almost $5 a gallon for regulated unleaded gasoline, while the nation is averaging $3.25 a gallon. Newsom does not believe that California’s high taxes […]
A new threat to U.S. refining may be looming. A proposed Environmental Protection Agency (EPA) rule on hydrofluoric-acid-based alkylation could spur a round of refinery closures as the cost of replacing hydrofluoric acid based alkylation with alternatives is extremely high. EPA is considering adding amendments to its Risk Management Program (RMP) regulation that could effectively eliminate the […]
According to the Energy Information Administration (EIA), the United States now has less than 25 days of diesel stocks, the lowest level since 2008—and down from 34.2 days during the previous four weeks. The fuel is already being rationed in the Northeast, with suppliers in several states forced to conserve heating oil as the winter months […]
Mexico’s newest oil refinery is not yet operational since it is behind schedule and over budget, but President Andrés Manuel López Obrador announced the refinery as a centerpiece to his goal of securing Mexico’s energy independence, which President Trump had secured for Americans in 2019 and which President Biden is destroying through his energy and climate policies. […]
China is surpassing the United States this year as the world’s largest refiner as government climate goals and regulation cause U.S. refiners to close facilities. China is expected to have 18.81 million barrels per day of refining capacity while the United States has 17.7 million barrels per day of operating refinery capacity and about 0.4 million barrels per day […]
A recent Bloomberg article underscores the government distortions in the fuel and food sectors. The piece discusses the rising price of ethanol because of expected supply problems: Ethanol’s discount to gasoline narrowed to a four-month low on speculation that the slowest pace of corn planting since 1986 will make it difficult to replenish supplies. The […]
The new era in American energy being brought on innovative hydraulic fracturing and horizontal drilling technologies has made, North Dakota, the poster child of the domestic energy boom. In 2012, North Dakota was the second largest oil producer, boasting the nation’s lowest unemployment rate at 3.6%. North Dakota’s emergence as an energy giant is a […]
A recent WSJ article explained how the ethanol mandate is leading to a “blend wall” that paradoxically leads U.S. refiners to export their gasoline, raising pump prices at home. This is just another fantastic example of government policies having unintended consequences. Before looking at just how serious the problem is, let’s set the context by […]
The EPA is planning to tighten its gasoline regulations from Tier 2 to Tier 3 standards, which would reduce permissible sulfur content from the current 30 parts per million (ppm) down to 10 ppm. (I have written a full overview of the economic issues surrounding Tier 2 and Tier 3 in this earlier IER […]
Sometimes in their zeal to exaggerate the “social benefits” of one of its programs, the number-crunchers at government agencies will stoop to absurd arguments that end up coming back to bite them. The Heritage Foundation’s David Kreutzer recently caught a great example of this, concerning the NHTSA’s and EPA’s analysis [pdf] of its new […]