Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:35 AM

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:18,650
Points:1,612,445
Joined:Nov 2008
Message Posted: Feb 3, 2013 8:09:06 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:18,650
Points:1,612,445
Joined:Nov 2008
Message Posted: Feb 2, 2013 5:59:01 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:177,955
Joined:Oct 2012
Message Posted: Jan 31, 2013 1:17:39 AM
 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:3,209
Points:1,055,400
Joined:Mar 2005
Message Posted: Jan 30, 2013 2:30:15 AM
 Ignore myambro Report Abuse

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

Posts:6,501
Points:2,106,015
Joined:Oct 2005
Message Posted: Jan 30, 2013 12:45:38 AM
 Ignore Zonk Report Abuse

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

Posts:21,286
Points:2,258,020
Joined:May 2006
Message Posted: Jan 30, 2013 12:42:05 AM
 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:1,682
Points:391,345
Joined:Apr 2012
Message Posted: Jan 30, 2013 12:39:06 AM
 Ignore gaspumpin Report Abuse

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

Posts:17,640
Points:3,498,605
Joined:Jul 2003
Message Posted: Jan 30, 2013 12:38:28 AM
 Ignore DEG Report Abuse

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

Posts:3,916
Points:776,270
Joined:Mar 2011
Message Posted: Jan 30, 2013 12:34:28 AM
 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:8,511
Points:1,632,765
Joined:Sep 2005
Message Posted: Jan 30, 2013 12:31:22 AM
 Ignore unicornpmb Report Abuse

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

Posts:3,246
Points:521,775
Joined:Jul 2011
Message Posted: Jan 30, 2013 12:31:00 AM
 Ignore bvrbill Report Abuse

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

Posts:2,005
Points:2,530,335
Joined:May 2005
Message Posted: Jan 30, 2013 12:26:56 AM
 Ignore crreed1 Report Abuse

BS
Profile Pic
craigsf38
Champion Author Rochester

Posts:5,728
Points:1,513,930
Joined:Jun 2008
Message Posted: Jan 30, 2013 12:26:43 AM
 Ignore craigsf38 Report Abuse

another stay at home season
Profile Pic
Glock26
Champion Author Dayton

Posts:1,544
Points:636,385
Joined:Mar 2011
Message Posted: Jan 30, 2013 12:26:15 AM
 Ignore Glock26 Report Abuse

Bull!!!
Profile Pic
iFueler
Champion Author Durham

Posts:64,458
Points:182,200
Joined:Nov 2012
Message Posted: Jan 30, 2013 12:25:56 AM
 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 30, 2013 12:24:41 AM
 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:6,665
Points:1,214,755
Joined:May 2006
Message Posted: Jan 30, 2013 12:24:13 AM
 Ignore DrLyon Report Abuse

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

Posts:2,488
Points:666,200
Joined:Jan 2010
Message Posted: Jan 30, 2013 12:23:18 AM
 Ignore rahcat Report Abuse

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

Posts:4,961
Points:1,185,910
Joined:May 2009
Message Posted: Jan 30, 2013 12:23:00 AM
 Ignore Ray_10589 Report Abuse

repeat
Profile Pic
cheapertvs
Champion Author Richmond

Posts:10,306
Points:2,745,720
Joined:Jan 2004
Message Posted: Jan 30, 2013 12:22:38 AM
 Ignore cheapertvs Report Abuse

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

Posts:16,553
Points:3,037,585
Joined:Nov 2004
Message Posted: Jan 30, 2013 12:20:53 AM
 Ignore alaric76 Report Abuse

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

Posts:8,272
Points:1,229,800
Joined:Dec 2009
Message Posted: Jan 30, 2013 12:20:01 AM
 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:2,440
Points:482,895
Joined:Jan 2012
Message Posted: Jan 30, 2013 12:18:32 AM
 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:1,738
Points:391,975
Joined:Mar 2012
Message Posted: Jan 30, 2013 12:18:23 AM
 Ignore boatfloyd Report Abuse

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

Posts:2,375
Points:1,512,300
Joined:Aug 2008
Message Posted: Jan 30, 2013 12:18:13 AM
 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:1,358
Points:142,200
Joined:Jan 2012
Message Posted: Jan 30, 2013 12:17:46 AM
 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:2,130
Points:493,845
Joined:May 2011
Message Posted: Jan 30, 2013 12:16:58 AM
 Ignore Cableman66 Report Abuse

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

Posts:10,048
Points:1,858,645
Joined:Oct 2005
Message Posted: Jan 30, 2013 12:16:19 AM
 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 30, 2013 12:15:25 AM
 Ignore tedjm1 Report Abuse

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

Posts:990
Points:176,335
Joined:Nov 2012
Message Posted: Jan 30, 2013 12:14:38 AM
 Ignore JasTheAce Report Abuse

b.s.
Profile Pic
Dailyrun
Champion Author Kentucky

Posts:1,997
Points:391,765
Joined:Apr 2012
Message Posted: Jan 30, 2013 12:13:10 AM
 Ignore Dailyrun Report Abuse

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

Posts:1,303
Points:377,460
Joined:Feb 2012
Message Posted: Jan 30, 2013 12:12:28 AM
 Ignore Ferdman17 Report Abuse

I agree gocatgo
Profile Pic
SteelPenny
Champion Author Dallas

Posts:31,013
Points:2,610,740
Joined:Sep 2005
Message Posted: Jan 30, 2013 12:12:21 AM
 Ignore SteelPenny Report Abuse

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

Posts:4,099
Points:1,105,805
Joined:Jun 2005
Message Posted: Jan 30, 2013 12:12:08 AM
 Ignore jkpsr Report Abuse

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

Posts:2,970
Points:835,630
Joined:May 2010
Message Posted: Jan 30, 2013 12:11:01 AM
 Ignore regout Report Abuse

Bad luck.
Profile Pic
gocatgo
Champion Author South Carolina

Posts:15,674
Points:2,532,730
Joined:Apr 2006
Message Posted: Jan 30, 2013 12:07:30 AM
 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:2,489
Points:612,145
Joined:May 2011
Message Posted: Jan 30, 2013 12:06:30 AM
 Ignore Thomtec Report Abuse

Please
Profile Pic
obimerrill
Champion Author Cincinnati

Posts:1,460
Points:293,715
Joined:Jul 2012
Message Posted: Jan 30, 2013 12:06:22 AM
 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:668
Points:573,260
Joined:Dec 2009
Message Posted: Jan 30, 2013 12:04:05 AM
 Ignore yyc2yow Report Abuse

wow what a surprise
Profile Pic
mcmonsta
Champion Author Honolulu

Posts:3,242
Points:821,470
Joined:Sep 2009
Message Posted: Jan 30, 2013 12:02:50 AM
 Ignore mcmonsta Report Abuse

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

Posts:3,816
Points:417,015
Joined:Mar 2012
Message Posted: Jan 30, 2013 12:02:46 AM
 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:3,816
Points:417,015
Joined:Mar 2012
Message Posted: Jan 30, 2013 12:00:09 AM
 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:5,639
Points:1,546,415
Joined:Dec 2006
Message Posted: Jan 30, 2013 12:00:02 AM
 Ignore HA4CNN Report Abuse

Not again.
Profile Pic
hyeglenn
Champion Author Fresno

Posts:1,085
Points:602,605
Joined:Apr 2011
Message Posted: Jan 29, 2013 11:58:16 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 11:57:40 PM
 Ignore labombaOH Report Abuse

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

Posts:7,442
Points:1,475,845
Joined:Oct 2008
Message Posted: Jan 29, 2013 11:57:08 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:11,674
Points:2,363,970
Joined:Oct 2005
Message Posted: Jan 29, 2013 11:52:16 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:5,334
Points:1,534,725
Joined:Sep 2005
Message Posted: Jan 29, 2013 11:43:36 PM
 Ignore OGW Report Abuse

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

Posts:8,085
Points:1,735,115
Joined:Jan 2008
Message Posted: Jan 29, 2013 11:42:46 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:1,311
Points:1,466,515
Joined:Jun 2008
Message Posted: Jan 29, 2013 11:42:24 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"