Reuters reported in July that Exxon was considering a third crude distillation unit at the Beaumont refinery, potentially doubling its current 344,600-barrel per day capacity with a multi-billion dollar project.
So far, most of the congressional debate on crude exports has focused on the economics of the issue, but former Amb. Carlos Pascual’s comments amplify geopolitical concerns with the longstanding trade restrictions for oil.
The American Fuel and Petrochemical Manufacturers, which commissioned the analysis, hopes it will debunk oil producers’ chief argument for crude exports by proving that refiners have the capacity to consume light, sweet U.S. crude.
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