A perspective from the refining industry
- Bracewell & Patterson, Washington, DC (United States)
To the petroleum refining industry, environmental regulations have grown overly burdensome and the promise of regulatory reform is a welcome change. In part, that is why the Independent Refiners Coalition was formed over a decade ago. The IRC comprises 15 domestic independent companies who refine more than 38 percent of the gasoline consumed in the United States. Independent refining companies operate 140 refineries in 34 states, employing some 200,000 people. Despite long-term commitment to rational environmental protection, we have come to realize that the burgeoning cost of environmental compliance presents a real challenge for refiners. The domestic petroleum refining industry must invest $14 billion more from 2001 to 2010 to comply with environmental regulations. Refineries spent 21% of their capital i the 1980`s on pollution abatement, which will increase to 42% in the 1990`s and 47% in the first decade of the next century. Such large capital investments and compliance costs have put the domestic refineries at a competitive disadvantage globally and have forced many domestic companies out of business. Reforms could relieve much of the regulatory burden placed on industry and help prioritize the country`s environmental goals.
- OSTI ID:
- 79372
- Journal Information:
- Environmental Protection, Vol. 6, Issue 3; Other Information: PBD: Mar 1995
- Country of Publication:
- United States
- Language:
- English
Similar Records
Frame work on an on-line regulations expert permit server, Semi-annual technical progress report, September 25, 1996--March 24, 1997
Natural gas to buoy Trinidad and Tobago petroleum sector