Mobile Version
Free Internet Press
  Uncensored News For Real People

FIP Year In Review

FIP Month in Review

FIP Archive Search

Multiple Discoveries from NASA's New Horizons Pluto Mission

R.I.P. William 'Bill' Herbert Kelder - Intellpuke

Gamers Donate 37,500 Pounds Of Food To Needy

Statement From The Whitehouse Regarding The Government Shutdown

An Open Response To 'Organizing for Action'

Bayou Corne: The Biggest Ongoing Disaster In The U.S. You Have Not Heard Of

Boston Mayor Hopes Feds 'Throw the Book' at Marathon Bombing Suspect

Boston Police Closing In On Suspects

2 Explosions At Boston Marathon. 2 Dead, Many Injured.

The Press vs Citizens Rights and Privacy - Act 3

CBS News - Year In Review 2012 - 366 Days: 2012 In Review

The Guardian - 2012 In Review: An Interactive Guide To The Year That Was

TruTV - The Biggest Conspiracy Theories of 2012

Colbert Nation: 2012: A Look Back

FIP Year In Review(s?)

Happy Holidays

Welcome To A New Era!

An Open Letter To United Health Care, Medcom, And The Medical Insurance Industry In General

Whitehouse Petition To Remove "Under God" and "In God" From Currency And The Pledge.

December 21, 2012

If Hillary Clinton Ran For President, She Would Probably Be The Best-prepared Candidate In American History

CIA Director David Petraeus Resigns After FBI Investigation Uncovers Affair With High-Profile Journalist

FIP Format Update

Thank you for voting.

Live Election Results

FIP In Hiatus

U.S.-Afghan Military Operations Suspended After Attacks

Iran Nuclear Chief Says IAEA Might Be Infiltrated By 'Terrorists And Saboteurs'

Romney Stands By Gaffe

California Refinery Fire Should Raise West Coast Gas Prices
2012-08-07 16:48:31 (216 weeks ago)
Posted By: Intellpuke
Analysts say a fire at one of the country's biggest oil refineries will contribute to higher prices at the pump on the West Coast.

The fire at the Chevron refinery in Richmond, about 10 miles northeast of San Francisco, broke out Monday evening.

It sent plumes of black smoke over the San Francisco Bay area and sent scores of people to hospitals with breathing problems before it was out the following morning.

Tom Kloza, chief oil analyst at Oil Price Information Service, says Chevron's refinery is big and important to the market.

With inventories of gasoline in the region already low compared with the rest of the country, Kloza says pump prices in California and elsewhere on the West Coast will soon average more than $4 per gallon.

As traders recalled a similar fire on the same unit in 2007 that left the plant mostly idle for months, Los Angeles benchmark gasoline premiums spiked nearly 25 cents, driving up the price of the nation's costliest motor fuel and delivering a margin boost for competing refiners who may try to increase output. Wholesale gasoline was trading at about $3.25 a gallon.

(story continues below)

Not all of the 245,000 barrel-per-day plant, which accounts for one-eighth of California's refining capacity, appears to have been shut down, despite local media reports suggesting the sprawling facility had been idled.

"We are still continuing to operate," spokesman Brent Tippen told Reuters, adding that he could not yet provide details on which specific parts were running.

With the crude distillation unit that apparently triggered the blaze believed to have shut earlier, it is unclear how long secondary units -- which rely on feed from the CDU to produce finished fuel like gasoline -- can keep running.

Trade sources who saw images of the 40-foot flames that burned for hours feared the closure could last up to three months, although other experts said it was too early to say.

"It's hard to judge the damage. There is a lot of volatile material there and so looks can be deceptive," said John Auers, a refinery specialist with Houston-based consultants Turner Mason. "If there is no major damage to the units, it could be a matter of days before it returns."

Below, CNBC's Sharon Epperson reports on the potential impact the fire at Chevron's California refinery could have on gas prices.

Intellpuke: This article is a compilation of reporting by NBC News, Reuters and Associated Press correspondents, reporting from Richmond, California; you can read it in context here:

Email To A Friend
Email this story to a friend:
Your Name:
Their Email:
Readers Comments
Add your own comment.
(Anonymous commenting now enabled.)

Creative Commons License
Free Internet Press is licensed under a Creative Commons Attribution 3.0 United States License. You may reuse or distribute original works on this site, with attribution per the above license.

Any mirrored or quoted materials may be copyright their respective authors, publications, or outlets, as shown on their publication, indicated by the link in the news story. Such works are used under the fair use doctrine of United States copyright law. Should any materials be found overused or objectionable to the copyright holder, notification should be sent to, and the work will be removed and replaced with such notification.

Please email with any questions.

Our Privacy Policy can be viewed at

XML/RSS/RDF Newsfeed Syndication XML/RSS/RDF Newsfeed Syndication:

XML/RSS/RDF Newsfeed Syndication XML News Sitemap