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US shale gas boom brings bad news for Europe's oil refiners

Reuters -- LONDON, July 26 (Reuters) - European oil refiners are set to lose a vital export market because the U.S. petrochemical industry is shifting away from reliance on oil products, notably naphtha, and using cheap and abundant shale gas instead.

Exports to the United States and Asia are often the last ray of hope for European refiners, crippled by high oil prices, poor refining margins and depressed economies at home.

The past few years have seen minimal exports of European gasoline to the United States because fewer Americans than normal have taken to the roads in the holiday driving seasons.

But even if gasoline flows to the United States pick up as the economy gains strength, exports of the key feedstock for the petrochemical industry, naphtha, may never fully recover because of the shale


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Submitted Jul 27, 2012 By: leemun
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REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Jul 30, 2012 4:54:56 AM

the global economy shifts w/ serious tectonic fractures.
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Jul 28, 2012 5:03:58 AM

Seismic shifts
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SparkieMi
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Message Posted: Jul 28, 2012 2:00:30 AM

Interesting......
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kgbellman
Champion Author Ann Arbor

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Message Posted: Jul 27, 2012 11:39:11 PM

I feel sorry that our prosperity is adversly affecting Europe . . . OK, I'm over it.
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52MPG
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Message Posted: Jul 27, 2012 11:33:50 PM

High prices increase the use of lower priced alternatives.
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carman11
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Message Posted: Jul 27, 2012 11:03:53 PM

Ok
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TonyPSU
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Message Posted: Jul 27, 2012 11:02:36 PM

Good
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umitb
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Message Posted: Jul 27, 2012 11:01:57 PM

ok
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CiVX
Champion Author Oakland

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Message Posted: Jul 27, 2012 11:00:58 PM

Less polluting and keeps our money here so we can buy more stuff from China.

[Edited by: CiVX at 7/28/2012 12:04:44 AM EST]
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1fulltank
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Message Posted: Jul 27, 2012 11:00:02 PM

The less we need to import the better.
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jayrad1957
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Message Posted: Jul 27, 2012 10:56:28 PM

Good news for us!
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WIWalt
Champion Author Wisconsin

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Message Posted: Jul 27, 2012 10:53:28 PM

ok
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us4usa
Champion Author Missouri

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Message Posted: Jul 27, 2012 10:52:55 PM

"European refiners, crippled by high oil prices, poor refining margins and depressed economies at home."

They have their work cut out for them...

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mdskier
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Message Posted: Jul 27, 2012 10:52:37 PM

OK
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Mustache_33
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Message Posted: Jul 27, 2012 10:49:10 PM

hmm
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FunMyster
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Message Posted: Jul 27, 2012 10:49:09 PM

ok
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mstearno
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Message Posted: Jul 27, 2012 10:48:52 PM

who cares
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CAroadrunner101
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Message Posted: Jul 27, 2012 10:47:04 PM

aw...
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paulydel
Champion Author Delaware

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Message Posted: Jul 27, 2012 10:42:42 PM

All without the idiot and chiefs help. Come on November.
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jrsva
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Message Posted: Jul 27, 2012 10:42:14 PM


NG is now cheap but what sort of mess will fracking leave for us to try to clean up later?
Nobody knows so we are gambling our future without knowing what cards are in our hand.
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sydb7
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Message Posted: Jul 27, 2012 10:40:48 PM

pity them!! NOT!
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JSX515
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Message Posted: Jul 27, 2012 10:39:36 PM

hum
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oldiesman
Champion Author New York

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Message Posted: Jul 27, 2012 10:37:46 PM

Obama will help them?
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beachmanglen
Champion Author Tampa

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Message Posted: Jul 27, 2012 10:37:06 PM

Don't feel sorry for Europe, feel good for America.
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ACTown
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Message Posted: Jul 27, 2012 10:36:26 PM

if it is good for us, yippy.
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bonzoonfmb
Champion Author Florida

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Message Posted: Jul 27, 2012 10:36:07 PM

Sorry Europe - sell your refineries to China.
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Taurus1
Champion Author Ohio

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Message Posted: Jul 27, 2012 10:34:25 PM

Don't trust the effects of the shale & fracking!
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Jul 27, 2012 10:32:12 PM

I feel for Europe, but we need to begin to use our own resources since we have so many of them.
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texasvet
Champion Author Texas

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Message Posted: Jul 27, 2012 10:32:01 PM

When we start exporting CNG in quantity to Europe, we'll start cutting into Russia's near monopoly and geopolitical stranglehold.
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bvrbill
Champion Author Eugene

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Message Posted: Jul 27, 2012 10:30:36 PM

Let's use our resources.
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dancygreen
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Message Posted: Jul 27, 2012 10:26:09 PM

ok
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mrbee
Champion Author Little Rock

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Message Posted: Jul 27, 2012 10:23:50 PM

Sorry Europe.
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walkingtall
Champion Author Toronto

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Message Posted: Jul 27, 2012 10:22:58 PM

US shale gas boom brings bad news for Europe's oil refiners and this may be bad for them but makes good business sense for the United States.
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aggietim
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Message Posted: Jul 27, 2012 10:22:46 PM

ok
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abcdMA
Champion Author Worcester

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Message Posted: Jul 27, 2012 10:22:38 PM

another nail in the euro's coffin
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brutherruther
Veteran Author Fort Worth

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Message Posted: Jul 27, 2012 10:20:58 PM

Ok
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ezone
Champion Author Florida

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Message Posted: Jul 27, 2012 10:20:57 PM

If we will let it happen, cheap natural gas will ultimately benefit them as well.
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Blue48
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Message Posted: Jul 27, 2012 10:17:51 PM

BAD NEWS FOR THEM!
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861270
All-Star Author Toledo

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Message Posted: Jul 27, 2012 10:17:34 PM

we suck
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ClevelandWheele
Veteran Author Florida

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Message Posted: Jul 27, 2012 10:16:00 PM

ok
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Tracer2008
All-Star Author Alberta

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Message Posted: Jul 27, 2012 10:15:48 PM

Supply and demand

Make a product that the u.s would prefer to buy and you will get customers...
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Is246
Champion Author Albuquerque

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Message Posted: Jul 27, 2012 10:14:32 PM

This may be bad for them but makes good business sense for the US.
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Fitwit
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Message Posted: Jul 27, 2012 10:13:50 PM

No Comment.
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drobbbb
Champion Author Maryland

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Message Posted: Jul 27, 2012 10:10:10 PM

need to be more self reliant
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efwosu
Veteran Author Columbus

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Message Posted: Jul 27, 2012 10:08:19 PM

All this despite the clown in chief's efforts to minimize america's potential? Pack your bags you damn fool!
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serrog
Champion Author Nova Scotia

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Message Posted: Jul 27, 2012 10:05:25 PM

FRacking is dangerous
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72_Monte
Champion Author Twin Cities

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Message Posted: Jul 27, 2012 10:04:51 PM


Gotta get off oil sometime soon anyway.
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adr47
Champion Author Saskatchewan

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Message Posted: Jul 27, 2012 10:01:35 PM

OK
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jjjleblanc
Champion Author Rochester

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Message Posted: Jul 27, 2012 10:01:33 PM

What took so long?
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AnObserver
Champion Author New Jersey

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Message Posted: Jul 27, 2012 10:01:04 PM

That's the global energy market
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