Middle East Economic Survey
VOL. XLVII
No 35
30-August-2004
SUPPLY/DEMAND
PIRINC Assesses Need For Fresh Investment In US Refining Capacity
The moratorium on new refinery construction in the US since 1976 has resulted in national dependence on a refining sector that is running at an average utilization rate of 96% in the summer of 2004, a level that provides little flexibility to manage unexpected outages. Increased competition for foreign sources of refined petroleum products means that the...
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