Texas .....The US biggest oil refinery has closed due to the weather. If this done following protocol and as a precaution ....a mere bump in production for about a month ......however .......if one of the power sources shut down first .....630,000 barrels a day will not be refined for several months. Here's how it works ....An oil refinery is fed by two power sources ....Two power plants have transmission lines running to the refinery. One powers a half and the other powers a half. If one power source goes down, the entire plant is shut down ....The half still powered, does their clean up while the half not powered does clean up before the entire plant can be activated again. It is possible to switch the power from two sources to one for a short term .....My feeling is that this was due to weather.
What is the impact? In the past two years five refineries have been shut down ......most often due to regulations making it impossible to make money refining oil. This plant recently went into operation...The newest US based refinery ....This shut down will cause a shortage of gasoline making gas prices spike .....Get ready, here it comes ......so much for the price drops ...
What is the impact? In the past two years five refineries have been shut down ......most often due to regulations making it impossible to make money refining oil. This plant recently went into operation...The newest US based refinery ....This shut down will cause a shortage of gasoline making gas prices spike .....Get ready, here it comes ......so much for the price drops ...