AM-94-30 REFINING IN THE 1990s RESTRUCTURING AND RESURGENCE

Description:

After two years of uncertainty in dealing with the 1990 Clean Air Act Amendments coupled with the shutdown of five percent of total U.S. refining capacity, the industry is now positioning itself for continued operations throughout the remainder of the decade. However, we are experiencing a shift in the mode of operations to a period of more restructuring (closings, ventures, alliances, etc.) followed by a resurgence in financial performance. The purpose of this paper is to examine the current industry and highlight the reasons for industry’s current plans. We also speculate about the strategies companies will choose to better their financial performance.