API: Fuel exports help U.S. refineries stay afloat

12/5/2011 | San Francisco Chronicle

Some consumer groups have suggested that fuel exports are part of a conscious effort by U.S. oil and natural gas firms to keep gasoline and diesel prices up, but they are wrong, said John Felmy, the American Petroleum Institute's chief economist. The exports help refineries stay afloat in the face of falling profit margins, Felmy added.

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