November 23, 2020 – DeSmog Blog
Oil Companies Can’t Find Any Buyers For Refineries Struggling Amid Pandemic Crisis
By Justin Mikulka
…Expectations are for the economy and fuel consumption to return to 2019 levels at some point in the future, with one caveat: The demand for very profitable jet fuel (which accounted for 9 percent of total U.S. refinery output last year) may never return. This change poses a major threat to the basic business model of many refineries.
Although plenty of businesses face similar challenges, it may be...