shut down

The demand for motor gasoline is declining.  The volume of ethanol in the gasoline pool is increasing.  That means the market needs less gasoline from refineries.  Another One Bites the Dust is a common refrain heard in refining circles – referring to the latest refinery shutdown. This week I caught the most succinct explanation of what is going on from Lynn Westfall, EVP of Turner, Mason & Co. out of Dallas.  He was speaking at the Platt’s North American Refining & Trading Conference held on Monday and Tuesday of this week.  The following are my notes (and color commentary) from Lynn’s presentation.  We’ll start with two of his most compelling charts.