TV News LIES

Wednesday, Jul 30th

Last update05:24:54 AM GMT

You are here News Energy Senator questions why refineries cut production

Senator questions why refineries cut production

E-mail Print PDF

Senator questions oil productionWest Coast oil refiners cut gasoline production after a fire earlier this year at a Washington state refinery, creating a supply shortage that’s left West Coast motorists now paying very high prices at a time when the rest of the nation is seeing prices plunge, according to an influential senator and a veteran energy analyst.

In a letter being sent to regulators on Thursday and obtained by McClatchy, Sen. Maria Cantwell, D-Wash., calls on the Federal Trade Commission to investigate refinery operators Alon, Chevron, ConocoPhillips, Shell, Tesoro and BP following the shutdown of BP’s Cherry Point refinery in Washington State.

Citing a report by Portland energy consultant McCullough Research – a group whose work helped topple energy-trading giant Enron Corp. – Cantwell questioned why May gasoline prices in her state soared recently to within cents of the local record of $4.35 a gallon set in July 2008. Meantime, gasoline prices nationwide in May fell 17 cents a gallon and oil tumbled more than $14 a barrel.

The McCullough Research report, published Tuesday, questioned whether the historically low gasoline inventories on the West Coast were really a result of a fire on Feb. 17 that idled the BP plant for about three months.

Gasoline prices on the West Coast had tracked closely with the price of West Texas intermediate crude delivered at Cushing, Okla., but in May veered widely from historical norms, according to the report. Had prices followed supply costs, said the report’s author, Robert McCullough, retail gasoline prices on the West Coast would have dropped to about $3.65 a gallon. Instead, prices have been about 68 cents higher.

More...


Most Recent Related Stories...


Iran vows to defend Iraq Shi'ite sites; insurgents battle for refinery

Iran to protect sitesSunni rebels battled their way into the biggest oil refinery in Iraq on Wednesday, and the...

Florida to host 'paradigm-shifting' ocean energy project

off shore energy experimentThe U.S. government announced plans to work with Florida Atlantic University to test a system to...

BP allowed commercial drones by US regulators in unprecedented decision

FAA allows BP use of drones over landThe Federal Aviation Administration said Tuesday it has granted the first permission for commercial drone flights...

PlayStation 4 And Xbox One Are Energy Hogs

playstation and XboxFor all their graphical improvements and multimedia functionality, there's one place where Microsoft's Xbox One and...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!