US refining's strength assured for years

05/10/2004
Is US refining a sure bet for the foreseeable future?Analysts who think so point to seemingly intractable infrastructure problems and the growing "boutique" nature of US gasoline markets as sustaining refining margins for years to come.A long-term shortfall of gasoline supply looms for the US, contends Michael D. Tusiani, New York-based Poten & Partners Inc. chairman and CEO, writing a commentary in the Houston Chronicle.Even the growth in US imports of gasoline won't stave off this day for long, he contends, adding that within 3 years demand will "hit the ceiling," as even foreign refiners aren't able to accommodate the robust growth in US gasoline consumption.The result: govern...
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