White House Courts Investors to Reopen Refineries as U.S. Capacity Stays 5% Below 2020 Peak
Updated
Updated · POLITICO · Jul 30
White House Courts Investors to Reopen Refineries as U.S. Capacity Stays 5% Below 2020 Peak
3 articles · Updated · POLITICO · Jul 30
Summary
National Energy Dominance Council officials have been connecting prospective investors with agencies to revive shuttered refineries, with St. Croix and mothballed California plants high on the administration’s list.
97% utilization at U.S. refineries last week and fuel-price pressure tied to Middle East supply disruptions have sharpened the push to add domestic gasoline, diesel and jet-fuel capacity.
St. Croix is the most advanced case: EPA and White House officials have discussed restart requirements, and consultants estimate about $686 million and 18 months to restore 180,000 barrels per day.
That effort still faces major hurdles from St. Croix’s environmental record, including a 2021 shutdown after flaring accidents and a proposed $35 million toxic-exposure settlement reached earlier this year.
The administration has already eased one barrier by ending a policy that forced long-idled refineries to seek new permits, part of a broader bid to expand refining and support Venezuelan crude processing.