With profits sinking, refineries scale back

The last 12 months have been a rough ride for refineries, though you would be hard-pressed to find many sympathizers in an economy gone sour.

But there’s not very much money being made these days by companies operating the massive distilleries that break down crude oil into gasoline, diesel fuel, home heating oil and jet fuel.


“Refining is a cyclical business,” said Bill Day, a spokesman for Valero Energy Corp., one of the nation’s largest refining firms and the owner of the facility outside Delaware City.

“We enjoyed some good years in the middle 2000s, but it’s always had its ups and downs, and right now we’re in part of a down cycle,” he said.

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