Business Services Industry
Government to Require Cleaner-Burning Gasoline, Diesel from Oil Refiners.
Knight Ridder/Tribune Business News, September, 2002
By Greg Jefferson, San Antonio Express-News Knight Ridder/Tribune Business News
Sep. 25--The federal government will require oil refiners to begin making cleaner-burning gasoline and diesel in the next several years in order to cut smog-causing emissions.
While many of the companies -- including San Antonio's Valero Energy Corp. and Tesoro Petroleum Corp. -- are already upgrading, the timing is drawing groans from some in the industry, coming as it does amid a refining slump.
Profit margins have fallen this year because of weak demand for diesel, jet fuel and heating oil.
"With the poor refining margins our industry has experienced this year," said Valero CEO Bill Greehey, "it will be very difficult for refiners to make the...
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