Evidence continues to pile up that there is no viable business case for the proposed Hyperion oil refinery near Elk Point. My friends at the SD Tar Sands Pipeline blog note that demand for gasoline is dropping. SDTSP points to a Wall Street Journal report that Valero is closing a Delaware gasoline refinery. Experts in that article see gasoline demand decreasing or remaining flat as biofuels take more of the market and as motorists look for more fuel-efficient vehicles.
A new Department of Energy report says that last week, U.S. crude oil refineries operated at under 80% of capacity. The same report says our oil imports over the past month are down 13% from the same time last year. Domestic production is up, but there's still a net drop of 2.1% in cumulative oil input to refineries this year.
All this supports the case I've been making for the past year here (see also here and here and here): Hyperion's refinery proposal is more wishes and dreams than solid business case.
The City of Sioux Falls can afford a sales tax cut on food
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Poops couldn’t resist to say the sky is falling in front of all of his
Republican friends at his illegal meeting this morning; “What might sound
like a goo...
16 hours ago
thank you so muich for your positive comments. i have been asking Hyperion for over 3 years, where's the money? where's the oil coming from, what pipeline? how are you going to get it out of here. they have NO answers. with the demand going down, investor capitol is vanishing quicker than you can flush a toilet. keep the pressure on it will never happen.
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