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Valero shuts refinery, largest closure yet in '09

GasBuddy Blog -- In a sign of how weak the economy is and how weak demand continues to erode refiner margins, Valero today announced it's closing its 210,000bpd plant in Delaware City, DE.

This is now the second U.S. refinery to shut its doors in November- the Western Refinery facility in New Mexico also intends to shut its 190,000bpd plant in Bloomfield.

While the news can temporarily help push oil and gasoline prices lower on "verification" that demand is low, and margins are negative, the long term outlook is that these plants will be well-needed if and when the U.S. economy makes a strong recovery. A key ingredient to positive growth after a recession has been affordable energy. If demand ever recovers, there will be less...

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Submitted Nov 20, 2009 By: PD

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REPLIES (newest first)

badtazz Sophomore Author Washington Posts:154 Points:46,935 Joined:Jan 2010	Message Posted: Feb 9, 2010 2:58:54 AM Ignore badtazz Report Abuse Just another day in the good old USA
OHMS Champion Author Orange County Posts:6,740 Points:739,385 Joined:May 2005	Message Posted: Feb 8, 2010 2:41:25 PM Ignore OHMS Report Abuse how could you tell you've seen it before? did the largest closure YET in 209 help stir your memory? Why is it still up here?
PathfinderSC Champion Author South Carolina Posts:3,659 Points:684,700 Joined:Mar 2008	Message Posted: Feb 5, 2010 10:30:10 PM Ignore PathfinderSC Report Abuse SEEN THIS BEFORE.
Jamer Champion Author Orange County Posts:3,131 Points:534,225 Joined:Jul 2002	Message Posted: Nov 20, 2009 11:06:00 PM Ignore Jamer Report Abuse This is a old news article.
Winston76 Veteran Author Michigan Posts:371 Points:116,260 Joined:Jul 2008	Message Posted: Nov 20, 2009 2:38:05 PM Ignore Winston76 Report Abuse I hope these closures are just temporary and these refineries can be recommissioned if demand rises.
fordmexico Champion Author Michigan Posts:1,561 Points:137,205 Joined:Oct 2009	Message Posted: Nov 20, 2009 2:07:58 PM Ignore fordmexico Report Abuse Old news. There was an early posting.