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Insufficient profits put refineries in jeopardy, report finds

A task force concludes that renewable energy and regulations could shut down two operations

By Alan Yonan Jr.

POSTED: 01:30 a.m. HST, Nov 20, 2013

~~<p>One or both of Hawaii's two oil refineries are likely to close by 2020 as their already thin profit margins are squeezed further by a shift to renewable energy sources, tougher environmental standards and other factors, members of a state task force warned.</p>
<p>The recent sale of Tesoro's Kapolei refinery to Par Petroleum Corp. does not change the basic premise that Hawaii is becoming an increasingly difficult environment in which to operate an oil refining business, according to an interim task force report prepared for the state Department of Business Economic Development and Tourism.</p>
~~

One or both of Hawaii's two oil refineries are likely to close by 2020 as their already thin profit margins are squeezed further by a shift to renewable energy sources, tougher environmental standards and other factors, members of a state task force warned.

The recent sale of Tesoro's Kapolei refinery to Par Petroleum Corp. does not change the basic premise that Hawaii is becoming an increasingly difficult environment in which to operate an oil refining business, according to an interim task force report prepared for the state Department of Business Economic Development and Tourism. Login for more...



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