WRIGHT KILLEN: BTU TAX WILL SHAKE U.S. REFINERS

05/10/1993
Wright Killen & Co., Houston, last week sounded a warning for the U.S. refining industry to brace for another severe jolt if President Clinton's proposed BTU tax goes into effect. Such a tax will add more than a score of refineries and I million b/d of crude oil refining capacity to a list Wright Killen earlier classed as "at risk of failure" or "likely to fail." The firm late last year placed 37 refineries with 1.556 million b/d of capacity in those categories because of increased capital outlays and operating costs required to comply with the Clean Air Act amendments of 1990 and other environmental and safety rules. Thus, the 1992...
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