The cost of Renewable Fuel Standard (RFS) compliance credits, specifically D6 renewable identification numbers (RINs), is out of control. Sales of D6 RINs for conventional ethanol recently registered above $1.90 (the highest trades in history).
Refineries are not the story when it comes to retail gasoline prices. Raw materials (in this case crude oil) account for the biggest share of the final price consumers pay.
The operator of an 800-ton crane at ExxonMobil’s Baton Rouge, Louisiana, polypropylene project construction site lowers a new 150-foot-tall reactor into place.
We enter the official 2020 hurricane season in June with a full appreciation that this year brings additional challenges as our nation continues a fight against a different yet deadly type of storm.
Beyond digitization (converting analog information to digital) and digitalization (the technology-driven shift to business processes) lies digital transformation.
Fuel supply limitations resulting from the impact of hurricanes and other natural disasters on infrastructure, for example, can lead to price increases as the market reacts to rebalance supply and demand.
Right now, members of Congress are debating a series of taxes as part of the multi-trillion-dollar reconciliation package that could make the crude oil that runs through U.S. refineries more expensive.
Hurricane Ida knocked out power to over one million people and created devastation that will take months to address. But as soon as the storm passed, the fuel and petrochemical industries began stepping up with financial assistance, in-kind donations and in-person support to help affected communities recover and rebuild.