I remembered this news item while reading TR's comments on refinery capacity in the survival scenario thread. I don't think that this news in any way alters the fact that the U.S. is short on refinery capacity, but it is an interesting development and touches obliquely on several ongoing discussions here on PS.com.
http://phx.corporate-ir.net/phoenix....286&highlight=
Quote:
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PHILADELPHIA--(BUSINESS WIRE)--Oct. 6, 2009-- Sunoco, Inc. (NYSE:SUN) announced today it is indefinitely idling all process units at its Eagle Point refinery located in Westville, New Jersey in an effort to reduce losses in its refining business at a time when a recessionary economy, weak demand for refined products, and increased global refining capacity have created margin pressure on the entire refining industry. Sunoco will shift current Eagle Point production to its two nearby refineries in Marcus Hook and Philadelphia, Pennsylvania, which will now operate at higher capacity utilization. The company will be able to produce essentially the same amount of refined products in two facilities that it currently produces in three while continuing to meet customer demand.
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