Running Full Throttle, U.S. Refineries Still Can’t Meet Demand for Gas

America’s unquenched thirst for gasoline is stretching the nation’s refineries to their limits. Even so, no new refineries are likely to be built soon, and that helps ensure that gas prices will stay high as America becomes increasingly dependent on foreign-made gasoline.

High investment costs and low profits have discouraged the building of any new U.S. refineries since 1976. Absent new refineries, rising demand for gas will outpace American refiners’ ability to make it.

U.S. and global demand for gasoline are at all-time highs. American refineries are running at more than 90 percent capacity, and at up to 96 percent in peak times. That’s close to full throttle, and without precedent.
Knight Ridder