The Determinants of Plant Exit: The Evolution of the U.S. Refining Industry

2015 ◽  
Author(s):  
David W. Meyer ◽  
Christopher T. Taylor
Keyword(s):  
Refining Industry ◽  
Plant Exit ◽  
The U.S

The Determinants of Plant Exit: the Evolution of the U.S. Refining Industry

2018 ◽  
Vol 18 (4) ◽  
pp. 429-448
Author(s):  
David W. Meyer ◽  
Christopher T. Taylor
Keyword(s):  
Refining Industry ◽  
Plant Exit ◽  
The U.S

Regulating Competition in Oil: Government Intervention in the U.S. Refining Industry, 1948-1975

1978 ◽  
Vol 54 (1) ◽  
pp. 129
Author(s):  
James W. McKie ◽  
Walter J. Mead ◽  
E. Anthony Copp
Keyword(s):  
Government Intervention ◽  
Refining Industry ◽  
The U.S

U.S. Refining — Changing Supply and Slate Requirements

1994 ◽  
Vol 12 (2-3) ◽  
pp. 177-190
Author(s):  
Charles L. McSpadden
Keyword(s):  
Crude Oil ◽  
Raw Materials ◽  
Oil Quality ◽  
Petroleum Products ◽  
Refining Industry ◽  
Raw Material ◽  
Product Demand ◽  
Crude Oil Prices ◽  
Near Future ◽  
The U.S

With international refining industries facing a number of challenges in the near future, it seems clear that those who survive will be ones with the ability to turn serious problems into real opportunities. In the U.S. refining industry, challenges such as slow growth in product demand, increasing reliance on imported raw materials, and continued exposure to offshore exporting refineries will have critical effects on the ability of the industry to capitalize on available opportunities. Other challenges include the ability to tolerate continued declines in crude oil quality and the serious monetary questions related to compliance with environmental legislation, including air, soil, and water clean-up. This paper presents the challenges which the U.S. refining industry faces over the coming years, and seeks to address those issues which will impact the success or failure of the industry as a whole. The paper begins with a focus on the demand for U.S. petroleum products, encompassing brief historical data and forecasts of demand for the next few years. Closely related to demand is the subject of U.S. refinery operations, including product import and yield patterns. In this vein, the paper offers forecasts of crude runs to stills, as well as forecasts of capacity changes. Because profitability of U.S. refineries is affected by raw material costs, the paper next probes the possibilities resulting from world crude oil price fluctuations, considering the reemergence of Iraq as a market player. Forecasts of profit margins for U.S. refiners in 1998 are also offered. Turning to crude oil supplies and qualities, the paper examines the downward trend of U.S. crude oil production, providing a forecast of the decline by 1998. An associated trend, that of U.S. crude oil imports, is also evaluated, with a discussion of the origins of these imports included. The paper then presents a brief discussion of the principal recipient of Canadian crude oil exports, the U.S. Midwest (PADD II), encompassing statistics for refinery runs and deliveries of crudes. Volumes of Canadian crude exported to the region are also presented, as well as crude oil qualities in the region. Finally, heavy crude oil prices are examined because of the degradation of average crude oil qualities consumed by U.S. refiners. Spreads between light and heavy crudes are contemplated, with a forecast for the current-dollar WTI/Maya price spread provided.

Capital Structure and the Financial Development of the U.S. Sugar-Refining Industry, 1875–1905

2000 ◽  
Vol 60 (1) ◽  
pp. 190-215 ◽  
Author(s):  
William M. Doyle
Keyword(s):  
United States ◽  
Capital Structure ◽  
Financial Development ◽  
Capital Investment ◽  
The United States ◽  
Historical Record ◽  
Refining Industry ◽  
Financial Strain ◽  
Financial Activity ◽  
The U.S

In this article I develop a taxonomy of financial practices based on whether financial activity is intended to fund new capital investment or to create new financial structures to accommodate planned changes in the structure of an industry's existing capital stock. The taxonomy is then applied to the financial development of the U.S. sugar-refining industry between 1875 and 1905. The taxonomy provides an explanation of the rise of the large, widely held industrial corporation in the United States that is more consistent with the historical record than are the conventional “financial strain” or “asset liquidation” hypotheses.

Explaining Plant Exit in the U.S. Meat and Poultry Industries

2003 ◽  
Vol 1 (1) ◽  
Author(s):  
Mary K Muth ◽  
Michael K Wohlgenant ◽  
Shawn A Karns ◽  
Donald W Anderson
Keyword(s):  
Plant Exit ◽  
The U.S
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