Meanwhile, they were facing the problem of running out of crude oil feedstock at the St.
It will also impose costly refinery modifications and require and necessitate increased importing of higher quality, non-California crude oil feedstock.
Gasoline prices often rise and fall with crude oil prices, and so complex refineries that can process lower priced crude feedstock typically see their margins improve during rising oil prices.
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Then there is pipeline policy needed to get feedstock to refineries to manufacture into oil products for consumers.
Switching feedstock from naphtha, derived from oil, to ethane, derived from gas, has kept petrochemicals cheap even as oil prices have peaked.
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The grim toll of rising energy costs continues: Dow Chemical (44, DOW), dependent on hydrocarbons (oil, natural gas, coal) for feedstock, has endured a 23% stock slide from a year ago.
Refiners churn out the same end products (gasoline, heating oil, distillates, etc.) using either feedstock, but not all refiners have the equipment to process heavy sour crude.
Each reactor is expected to produce 165 thousand barrels of oil per day, including diesel, gasoline and petrochemical feedstock.
The major reason these stocks have performed so well is that there is a glut of domestically produced oil that is pushing down the price refiners have to pay for their feedstock thus widening their margins.
During gasification, the carbon dioxide generated from the coal or other feedstock, like biofuels, is captured and then used to inject deep into the earth as part of oil recovery or otherwise sequestered in a geologic formation.
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