Not Logged In Log In   Sign Up   Points Leaders
Follow Us    1:33 PM

GasBuddy News Article

44
votes
Demise of small Hess refinery threatens U.S. East Coast pump pain

Reuters -- Hess Corp's (HES.N) decision to close its U.S. East Coast refinery, the latest plant to fall victim to weak profits in the Atlantic Basin, could threaten painful gasoline price spikes for regional drivers as local fuel supplies dwindle further.

Hess will shut the 70,000-barrels-per-day Port Reading, New Jersey plant in late February, as part of a larger restructuring, the company said in a statement on Monday.

U.S. RBOB gasoline futures, already near a record high for this time of year, jumped more than 2 percent after the announcement, as the supply outlook for the Mid-Atlantic and New England markets suddenly looked tighter for the summer driving season.

A tighter East Coast gasoline market could mean national gasoline prices hit $4 a gallon by the spring if...

Read the Full Article

Submitted Jan 29, 2013 By: NOTSOGRN
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Demise of small Hess refinery threatens U.S. East Coast pump pain Post a Reply Back to Topics
REPLIES (newest first)
First
1234
Next Last
Profile Pic
honda0105
Champion Author Tallahassee

Posts:18,623
Points:1,609,520
Joined:Nov 2008
Message Posted: Feb 3, 2013 6:09:06 AM
 Ignore honda0105 Report Abuse

so, is that the excuse to raise gas prices nearly 20 cents around here?
Profile Pic
honda0105
Champion Author Tallahassee

Posts:18,623
Points:1,609,520
Joined:Nov 2008
Message Posted: Feb 2, 2013 3:59:01 AM
 Ignore honda0105 Report Abuse

hpm: has not even anything to do w/ the administrations (see August 2008 when fuel prices hit well above $4/gal. Oh, yea,... that was under Bush43, btw).
Profile Pic
hpmossii
Sophomore Author Pennsylvania

Posts:208
Points:175,580
Joined:Oct 2012
Message Posted: Jan 30, 2013 11:17:39 PM
 Ignore hpmossii Report Abuse

Obama wants the price of gasoline to go way up to force consumers to move toward alternative fuels.
Profile Pic
myambro
Champion Author Sacramento

Posts:3,204
Points:1,052,925
Joined:Mar 2005
Message Posted: Jan 30, 2013 12:30:15 AM
 Ignore myambro Report Abuse

We must be punished for using carbon fuel.
Profile Pic
Zonk
Champion Author Michigan

Posts:6,481
Points:2,102,765
Joined:Oct 2005
Message Posted: Jan 29, 2013 10:45:38 PM
 Ignore Zonk Report Abuse

They are all on the obama team. Screw the American people.
Profile Pic
10k
Champion Author North Carolina

Posts:21,249
Points:2,254,020
Joined:May 2006
Message Posted: Jan 29, 2013 10:42:05 PM
 Ignore 10k Report Abuse

if we are talking wilco/hess, then not only will i lose a great deal of my reporting stations (those suckers are a dime a dozen in this area), but i presume unless sheetz can replace them around here, there will be alot of unhappy gas customers..

not me though, cause they sell ethanol crap, and i don't use ethanol crap in my car..
Profile Pic
gaspumpin
Champion Author Indiana

Posts:1,670
Points:388,480
Joined:Apr 2012
Message Posted: Jan 29, 2013 10:39:06 PM
 Ignore gaspumpin Report Abuse

Thank you Obama and the EPA.
Profile Pic
DEG
Champion Author Las Vegas

Posts:17,620
Points:3,494,705
Joined:Jul 2003
Message Posted: Jan 29, 2013 10:38:28 PM
 Ignore DEG Report Abuse

The US should be building new refineries.
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:3,896
Points:772,270
Joined:Mar 2011
Message Posted: Jan 29, 2013 10:34:28 PM
 Ignore jetskijerry Report Abuse

This is crooked. We're exporting gas as fast as we can. This keeps our price rising.
Profile Pic
unicornpmb
Champion Author Buffalo

Posts:8,491
Points:1,629,515
Joined:Sep 2005
Message Posted: Jan 29, 2013 10:31:22 PM
 Ignore unicornpmb Report Abuse

Let me wipe my tears.
Profile Pic
bvrbill
Champion Author Eugene

Posts:3,217
Points:518,525
Joined:Jul 2011
Message Posted: Jan 29, 2013 10:31:00 PM
 Ignore bvrbill Report Abuse

The dominos are starting fall...
Profile Pic
crreed1
Champion Author West Virginia

Posts:1,985
Points:2,526,335
Joined:May 2005
Message Posted: Jan 29, 2013 10:26:56 PM
 Ignore crreed1 Report Abuse

BS
Profile Pic
craigsf38
Champion Author Rochester

Posts:5,713
Points:1,510,255
Joined:Jun 2008
Message Posted: Jan 29, 2013 10:26:43 PM
 Ignore craigsf38 Report Abuse

another stay at home season
Profile Pic
Glock26
Champion Author Dayton

Posts:1,524
Points:632,385
Joined:Mar 2011
Message Posted: Jan 29, 2013 10:26:15 PM
 Ignore Glock26 Report Abuse

Bull!!!
Profile Pic
iFueler
Champion Author Durham

Posts:64,378
Points:178,525
Joined:Nov 2012
Message Posted: Jan 29, 2013 10:25:56 PM
 Ignore iFueler Report Abuse

this could turn out to be not so good in the long term
Profile Pic
defiancegasman
Champion Author Ohio

Posts:7,080
Points:1,323,260
Joined:May 2006
Message Posted: Jan 29, 2013 10:24:41 PM
 Ignore defiancegasman Report Abuse

"the latest plant to fall victim to weak profits in the Atlantic Basin, could threaten painful gasoline price"

After a decade of RECORD PROFITS, the close refineries as soon as profits as NOT INCREASING! 10 BILLION a quarter is not ENOUGH FOR BIG OIL, the have to keep GETTING MORE!

TIME TO REINSTATE REGULATIONS to limit what they can do to SCREW AMERICA!!
Profile Pic
DrLyon
Champion Author Michigan

Posts:6,650
Points:1,211,830
Joined:May 2006
Message Posted: Jan 29, 2013 10:24:13 PM
 Ignore DrLyon Report Abuse

Someone takeover...
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:2,468
Points:662,950
Joined:Jan 2010
Message Posted: Jan 29, 2013 10:23:18 PM
 Ignore rahcat Report Abuse

Looks like another summer close to home.
Profile Pic
Ray_10589
Champion Author New York

Posts:4,946
Points:1,182,985
Joined:May 2009
Message Posted: Jan 29, 2013 10:23:00 PM
 Ignore Ray_10589 Report Abuse

repeat
Profile Pic
cheapertvs
Champion Author Richmond

Posts:10,285
Points:2,741,720
Joined:Jan 2004
Message Posted: Jan 29, 2013 10:22:38 PM
 Ignore cheapertvs Report Abuse

Not good for the Eastern Seaboard.....
Profile Pic
alaric76
Champion Author New Jersey

Posts:16,531
Points:3,033,585
Joined:Nov 2004
Message Posted: Jan 29, 2013 10:20:53 PM
 Ignore alaric76 Report Abuse

just great for NJ, NOT!
Profile Pic
Quick68
Champion Author Columbus

Posts:8,223
Points:1,225,800
Joined:Dec 2009
Message Posted: Jan 29, 2013 10:20:01 PM
 Ignore Quick68 Report Abuse

The demise of the small Hess refinery is the doing again of our government to keep the price of gas & oil up.
Profile Pic
yakstar
Champion Author Montreal

Posts:2,420
Points:479,645
Joined:Jan 2012
Message Posted: Jan 29, 2013 10:18:32 PM
 Ignore yakstar Report Abuse

don't tell me they're shipping all the crude to China for processing!
Profile Pic
boatfloyd
Champion Author Jacksonville

Posts:1,718
Points:387,975
Joined:Mar 2012
Message Posted: Jan 29, 2013 10:18:23 PM
 Ignore boatfloyd Report Abuse

It's all about the money.
Profile Pic
RambleOn
Champion Author New York

Posts:2,375
Points:1,508,700
Joined:Aug 2008
Message Posted: Jan 29, 2013 10:18:13 PM
 Ignore RambleOn Report Abuse

Gadzooks!!! This isn't until 4 more weeks but the prices jumped up today.

Looks like I picked a bad week to quit sniffing glue...
Profile Pic
unclenorman
Champion Author Tampa

Posts:1,343
Points:139,275
Joined:Jan 2012
Message Posted: Jan 29, 2013 10:17:46 PM
 Ignore unclenorman Report Abuse

I'll never believe a small refinery isn't profitable.Why close it?SELL it to someone that can turn a profit!!!!!!!!!!!!!!!!!!!!!!!
Profile Pic
Cableman66
Champion Author North Carolina

Posts:2,110
Points:490,695
Joined:May 2011
Message Posted: Jan 29, 2013 10:16:58 PM
 Ignore Cableman66 Report Abuse

Sorry. Need new refineries in the East but not with current EPA.
Profile Pic
ricebike
Champion Author New Jersey

Posts:10,032
Points:1,855,720
Joined:Oct 2005
Message Posted: Jan 29, 2013 10:16:19 PM
 Ignore ricebike Report Abuse

so that's why prices spiked over the weekend? ok, thank you, news article!
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:800,300
Joined:Dec 2006
Message Posted: Jan 29, 2013 10:15:25 PM
 Ignore tedjm1 Report Abuse

Must keep East coast prices as highest in nation.
Profile Pic
JasTheAce
All-Star Author Raleigh

Posts:970
Points:172,335
Joined:Nov 2012
Message Posted: Jan 29, 2013 10:14:38 PM
 Ignore JasTheAce Report Abuse

b.s.
Profile Pic
Dailyrun
Champion Author Kentucky

Posts:1,982
Points:388,840
Joined:Apr 2012
Message Posted: Jan 29, 2013 10:13:10 PM
 Ignore Dailyrun Report Abuse

One excuse is as good as another.
Profile Pic
Ferdman17
Champion Author Albany

Posts:1,283
Points:374,310
Joined:Feb 2012
Message Posted: Jan 29, 2013 10:12:28 PM
 Ignore Ferdman17 Report Abuse

I agree gocatgo
Profile Pic
SteelPenny
Champion Author Dallas

Posts:30,961
Points:2,607,490
Joined:Sep 2005
Message Posted: Jan 29, 2013 10:12:21 PM
 Ignore SteelPenny Report Abuse

2nd time for this story.
Profile Pic
jkpsr
Champion Author New Jersey

Posts:4,079
Points:1,101,905
Joined:Jun 2005
Message Posted: Jan 29, 2013 10:12:08 PM
 Ignore jkpsr Report Abuse

Seems like last spring everyone was warning about $5+ prices.
Profile Pic
regout
Champion Author Quebec

Posts:2,955
Points:832,705
Joined:May 2010
Message Posted: Jan 29, 2013 10:11:01 PM
 Ignore regout Report Abuse

Bad luck.
Profile Pic
gocatgo
Champion Author South Carolina

Posts:15,647
Points:2,529,580
Joined:Apr 2006
Message Posted: Jan 29, 2013 10:07:30 PM
 Ignore gocatgo Report Abuse

Big Oil is doing there part to lower gasoline supplies to boost prices up.
Profile Pic
Thomtec
Champion Author Nashville

Posts:2,464
Points:608,145
Joined:May 2011
Message Posted: Jan 29, 2013 10:06:30 PM
 Ignore Thomtec Report Abuse

Please
Profile Pic
obimerrill
Champion Author Cincinnati

Posts:1,440
Points:289,715
Joined:Jul 2012
Message Posted: Jan 29, 2013 10:06:22 PM
 Ignore obimerrill Report Abuse

Oil company cutting back so they can charge more while making and spending less!!
Profile Pic
yyc2yow
All-Star Author Ottawa

Posts:648
Points:569,360
Joined:Dec 2009
Message Posted: Jan 29, 2013 10:04:05 PM
 Ignore yyc2yow Report Abuse

wow what a surprise
Profile Pic
mcmonsta
Champion Author Honolulu

Posts:3,227
Points:818,545
Joined:Sep 2009
Message Posted: Jan 29, 2013 10:02:50 PM
 Ignore mcmonsta Report Abuse

another well managed refinery(ies)???
Profile Pic
Aviator_Rob
Champion Author New York

Posts:3,795
Points:413,315
Joined:Mar 2012
Message Posted: Jan 29, 2013 10:02:46 PM
 Ignore Aviator_Rob Report Abuse

Great idea, @wayoung56. We'll let Big Oil know you're interested in their using your land. A survey crew will be over in the morning.

In all seriousness, who's going to build these new refineries? Big Oil is SHUTTING DOWN the ones they have.
Profile Pic
Aviator_Rob
Champion Author New York

Posts:3,795
Points:413,315
Joined:Mar 2012
Message Posted: Jan 29, 2013 10:00:09 PM
 Ignore Aviator_Rob Report Abuse

Understand something, @mstearno. Big Oil is NOT interested in job creation. If they could automate every facet of oil exploration, production, and distribution, they would.

Please explain to me how restricting fuel supplies domestically in favor of exporting petroleum products helps the American consumer.

Big Oil is NOT interested in lowering gas prices, which would lower the cost of transportation in this country. They ARE interested in maximizing profits... for them.
Profile Pic
HA4CNN
Champion Author Toronto

Posts:5,624
Points:1,543,390
Joined:Dec 2006
Message Posted: Jan 29, 2013 10:00:02 PM
 Ignore HA4CNN Report Abuse

Not again.
Profile Pic
hyeglenn
Champion Author Fresno

Posts:1,075
Points:599,905
Joined:Apr 2011
Message Posted: Jan 29, 2013 9:58:16 PM
 Ignore hyeglenn Report Abuse

Thank you Mr. President.
Profile Pic
labombaOH
Veteran Author Ohio

Posts:432
Points:128,885
Joined:Nov 2007
Message Posted: Jan 29, 2013 9:57:40 PM
 Ignore labombaOH Report Abuse

Whats the latin word for hosed?................................yea that's it CHENEY
Profile Pic
NorthglennBill
Champion Author Denver

Posts:7,422
Points:1,471,945
Joined:Oct 2008
Message Posted: Jan 29, 2013 9:57:08 PM
 Ignore NorthglennBill Report Abuse

If the oil companies continue to squeeze the profit out of refining oil may be soon there will no refineries left to buy the oil. That would be justice toward the oil companies and oil speculators. Unfornuately, the rest of us would suffer or have to start using alternate energy.
Profile Pic
Buddy2264
Champion Author Tampa

Posts:11,654
Points:2,359,970
Joined:Oct 2005
Message Posted: Jan 29, 2013 9:52:16 PM
 Ignore Buddy2264 Report Abuse

Maybe an airline will buy this one too, or others will expand capacity.
Profile Pic
OGW
Champion Author London

Posts:5,324
Points:1,531,150
Joined:Sep 2005
Message Posted: Jan 29, 2013 9:43:36 PM
 Ignore OGW Report Abuse

Unfortunately it was not an efficient or profitable refinery!
Profile Pic
mstearno
Champion Author Dayton

Posts:8,066
Points:1,731,235
Joined:Jan 2008
Message Posted: Jan 29, 2013 9:42:46 PM
 Ignore mstearno Report Abuse

Aviator Rob
creating jobs in energy is how big oil helps us
How about a little help from an economics class
supply and demand
if we had more jobs big oil would make even more money because people (well most) would drive to work... Would that be bad?
Profile Pic
tidalwave3
Champion Author Tallahassee

Posts:1,304
Points:1,463,700
Joined:Jun 2008
Message Posted: Jan 29, 2013 9:42:24 PM
 Ignore tidalwave3 Report Abuse

Going to be toUGH IN New England this summer :(
Post a reply Back to Topics
First
1234
Next Last
"Consumers working together to save on gas"