Sinclair Expansion Could Create Nationwide Ripple Effect
Thursday, September 6th 2007, 3:02 pm
By: News On 6
Sinclair is planning a billion dollar expansion at its Tulsa facility, and that expansion could have a ripple effect nationwide. Experts say increased oil production could lower prices in the U.S. News On 6 anchor Scott Thompson reports a billion dollar expansion could be just what the American oil markets ordered.
Politicians, economists, and oil industry insiders say it's simple. The more oil we produce here, the less we have to buy overseas. That would give foreign markets less influence on oil prices in America, but producing more is a challenge. No new refineries have been built in the U.S. in 30 years.
Many people are opposed to the ecological hazards that come with refineries. Even expansions are often a hard sell. Residents in Illinois, Indiana and Michigan are opposing a $4 billion expansion of the BP refinery on Lake Michigan. Along with more oil, the refinery would produce more pollution and most of it would be dumped in the lake where many people get their drinking water.
The Coffeyville refinery was close to completing a modest expansion before the flood hit this summer. They plan to be finished by next year, but their expansion pales in comparison to Sinclair's plans.
Still, some experts say expanding refineries may make America's oil markets more vulnerable. They say if an expanded refinery goes down for repairs or because of a disaster, it just leaves a bigger gap in the pipeline.
For a summary of the Sinclair expansion, click here.
For Oklahoma Department of Environmental Quality Violations for the Sinclair for the year 2004, click here.
For a compliance evaluation inspection of Sinclair Oil Corporation from May 2004 to June 2004, click here.
For Oklahoma Department of Environmental Quality Violations for the Sinclair for the year 2005, click here.
For Oklahoma Department of Environmental Quality Violations for the Sinclair for the year 2007, click here.
9/6/2007 Sinclair Announces Billion Dollar Expansion