Oil Refining Could Become Much Less Lucrative

If the world gets serious about cutting greenhouse gas
emissions, the global refining industry will be forced to contract.
That may seem like an obvious conclusion, but a new report from The
Carbon Tracker Initiative (CTI) ran the numbers, predicting that
the refining industry would contract by 25 percent if governments
adhered to the 2-degree-Celsius warming target. Policies to cap
emissions would weaken oil demand, which tends to depress refining
margins. CTI estimated in its report that refining margins would
shrink by $3.50 per barrel by 2035,…

If the world gets serious about cutting greenhouse gas
emissions, the global refining industry will be forced to contract.
That may seem like an obvious conclusion, but a new report from The
Carbon Tracker Initiative (CTI) ran the numbers, predicting that
the refining industry would contract by 25 percent if governments
adhered to the 2-degree-Celsius warming target. Policies to cap
emissions would weaken oil demand, which tends to depress refining
margins. CTI estimated in its report that refining margins would
shrink by $3.50 per barrel by 2035,…