"HOVENSA announced earlier this month that it would shut down its St. Croix refinery in the Virgin Islands. Sunoco and ConocoPhillips have already announced plans to idle two refineries in the Delaware Valley.
"Sunoco said it could decide to idle another refinery in the East Coast by mid-2012. The Department of Energy said those closures could “cut as much as 50 percent of current East Coast refining capacity.”
"With less supply, prices for heating oil, gasoline and refined products are likely to rise — at a time where prices are already setting records."
http://fuelfix.com/blog/2012/01/31/gasoline-prices-on-the-rise-as-refineries-close/
Analogous to the California electricity crisis.
http://en.wikipedia.org/wiki/California_electricity_crisis
Where there are near monopolies, there will be manipulation. I know that's music to your ears.
Current Events » in reply to Okay. Let's go over it again.
Re: Okay. Let's go over it again.
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- Obama announces his annual crackdown on oil market "manipulators"