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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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honda0105 Champion Author Tallahassee Posts:18,599 Points:1,607,570 Joined:Nov 2008	Message Posted: Jul 30, 2012 5:54:56 AM Ignore honda0105 Report Abuse the global economy shifts w/ serious tectonic fractures.
DrCashFlow Champion Author Massachusetts Posts:7,059 Points:1,625,275 Joined:Jun 2008	Message Posted: Jul 28, 2012 6:03:58 AM Ignore DrCashFlow Report Abuse Seismic shifts
SparkieMi Champion Author Kalamazoo Posts:3,248 Points:585,500 Joined:Sep 2011	Message Posted: Jul 28, 2012 3:00:30 AM Ignore SparkieMi Report Abuse Interesting......
kgbellman Champion Author Ann Arbor Posts:2,703 Points:729,890 Joined:Mar 2011	Message Posted: Jul 28, 2012 12:39:11 AM Ignore kgbellman Report Abuse I feel sorry that our prosperity is adversly affecting Europe . . . OK, I'm over it.
52MPG Champion Author Dayton Posts:7,252 Points:1,739,755 Joined:Apr 2006	Message Posted: Jul 28, 2012 12:33:50 AM Ignore 52MPG Report Abuse High prices increase the use of lower priced alternatives.
carman11 Champion Author North Carolina Posts:3,325 Points:689,775 Joined:Jun 2011	Message Posted: Jul 28, 2012 12:03:53 AM Ignore carman11 Report Abuse Ok
TonyPSU Champion Author Cleveland Posts:2,521 Points:691,605 Joined:May 2011	Message Posted: Jul 28, 2012 12:02:36 AM Ignore TonyPSU Report Abuse Good
umitb Champion Author Indianapolis Posts:3,665 Points:841,490 Joined:Apr 2010	Message Posted: Jul 28, 2012 12:01:57 AM Ignore umitb Report Abuse ok
CiVX Champion Author Oakland Posts:7,050 Points:1,358,610 Joined:Feb 2009	Message Posted: Jul 28, 2012 12:00:58 AM Ignore CiVX Report Abuse 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]
1fulltank Champion Author Buffalo Posts:7,893 Points:1,542,360 Joined:Nov 2008	Message Posted: Jul 28, 2012 12:00:02 AM Ignore 1fulltank Report Abuse The less we need to import the better.
jayrad1957 Champion Author Los Angeles Posts:19,630 Points:1,595,540 Joined:Nov 2008	Message Posted: Jul 27, 2012 11:56:28 PM Ignore jayrad1957 Report Abuse Good news for us!
WIWalt Champion Author Wisconsin Posts:1,716 Points:413,595 Joined:Mar 2012	Message Posted: Jul 27, 2012 11:53:28 PM Ignore WIWalt Report Abuse ok
us4usa Champion Author Missouri Posts:5,978 Points:1,110,425 Joined:May 2008	Message Posted: Jul 27, 2012 11:52:55 PM Ignore us4usa Report Abuse "European refiners, crippled by high oil prices, poor refining margins and depressed economies at home." They have their work cut out for them...
mdskier Champion Author Maryland Posts:9,930 Points:1,781,635 Joined:Aug 2005	Message Posted: Jul 27, 2012 11:52:37 PM Ignore mdskier Report Abuse OK
Mustache_33 All-Star Author Toronto Posts:900 Points:181,455 Joined:May 2012	Message Posted: Jul 27, 2012 11:49:10 PM Ignore Mustache_33 Report Abuse hmm
FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: Jul 27, 2012 11:49:09 PM Ignore FunMyster Report Abuse ok
mstearno Champion Author Dayton Posts:8,055 Points:1,729,430 Joined:Jan 2008	Message Posted: Jul 27, 2012 11:48:52 PM Ignore mstearno Report Abuse who cares
CAroadrunner101 Champion Author California Posts:1,812 Points:1,313,250 Joined:Mar 2009	Message Posted: Jul 27, 2012 11:47:04 PM Ignore CAroadrunner101 Report Abuse aw...
paulydel Champion Author Delaware Posts:8,774 Points:847,125 Joined:Jan 2008	Message Posted: Jul 27, 2012 11:42:42 PM Ignore paulydel Report Abuse All without the idiot and chiefs help. Come on November.
jrsva Champion Author Virginia Posts:9,841 Points:1,610,300 Joined:Jan 2006	Message Posted: Jul 27, 2012 11:42:14 PM Ignore jrsva Report Abuse 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.
sydb7 Champion Author Atlanta Posts:3,550 Points:1,917,990 Joined:Mar 2003	Message Posted: Jul 27, 2012 11:40:48 PM Ignore sydb7 Report Abuse pity them!! NOT!
JSX515 Champion Author St. Louis Posts:3,704 Points:799,645 Joined:Feb 2011	Message Posted: Jul 27, 2012 11:39:36 PM Ignore JSX515 Report Abuse hum
oldiesman Champion Author New York Posts:6,417 Points:2,192,010 Joined:May 2006	Message Posted: Jul 27, 2012 11:37:46 PM Ignore oldiesman Report Abuse Obama will help them?
beachmanglen All-Star Author Tampa Posts:674 Points:494,525 Joined:Aug 2011	Message Posted: Jul 27, 2012 11:37:06 PM Ignore beachmanglen Report Abuse Don't feel sorry for Europe, feel good for America.
ACTown Champion Author Oregon Posts:2,346 Points:1,427,735 Joined:Jun 2007	Message Posted: Jul 27, 2012 11:36:26 PM Ignore ACTown Report Abuse if it is good for us, yippy.
bonzoonfmb Champion Author Florida Posts:1,772 Points:642,185 Joined:Feb 2010	Message Posted: Jul 27, 2012 11:36:07 PM Ignore bonzoonfmb Report Abuse Sorry Europe - sell your refineries to China.
Taurus1 Champion Author Ohio Posts:3,120 Points:1,671,775 Joined:Apr 2006	Message Posted: Jul 27, 2012 11:34:25 PM Ignore Taurus1 Report Abuse Don't trust the effects of the shale & fracking!
WIPACKERFAN Champion Author Chicago Posts:8,794 Points:1,841,500 Joined:Aug 2005	Message Posted: Jul 27, 2012 11:32:12 PM Ignore WIPACKERFAN Report Abuse I feel for Europe, but we need to begin to use our own resources since we have so many of them.
texasvet Champion Author Texas Posts:3,823 Points:360,120 Joined:Jul 2009	Message Posted: Jul 27, 2012 11:32:01 PM Ignore texasvet Report Abuse When we start exporting CNG in quantity to Europe, we'll start cutting into Russia's near monopoly and geopolitical stranglehold.
bvrbill Champion Author Eugene Posts:3,199 Points:516,575 Joined:Jul 2011	Message Posted: Jul 27, 2012 11:30:36 PM Ignore bvrbill Report Abuse Let's use our resources.
dancygreen Champion Author Twin Cities Posts:2,053 Points:482,935 Joined:Sep 2011	Message Posted: Jul 27, 2012 11:26:09 PM Ignore dancygreen Report Abuse ok
mrbee Champion Author Little Rock Posts:3,744 Points:2,464,030 Joined:Oct 2005	Message Posted: Jul 27, 2012 11:23:50 PM Ignore mrbee Report Abuse Sorry Europe.
walkingtall Champion Author Toronto Posts:3,984 Points:1,118,755 Joined:Nov 2004	Message Posted: Jul 27, 2012 11:22:58 PM Ignore walkingtall Report Abuse 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.
aggietim Champion Author Fort Worth Posts:1,756 Points:692,425 Joined:Oct 2008	Message Posted: Jul 27, 2012 11:22:46 PM Ignore aggietim Report Abuse ok
abcdMA Champion Author Worcester Posts:7,912 Points:1,573,030 Joined:Nov 2008	Message Posted: Jul 27, 2012 11:22:38 PM Ignore abcdMA Report Abuse another nail in the euro's coffin
brutherruther Veteran Author Fort Worth Posts:435 Points:237,540 Joined:Mar 2012	Message Posted: Jul 27, 2012 11:20:58 PM Ignore brutherruther Report Abuse Ok
ezone Champion Author Florida Posts:2,411 Points:944,410 Joined:Oct 2008	Message Posted: Jul 27, 2012 11:20:57 PM Ignore ezone Report Abuse If we will let it happen, cheap natural gas will ultimately benefit them as well.
Blue48 Champion Author Illinois Posts:7,295 Points:1,635,995 Joined:Feb 2007	Message Posted: Jul 27, 2012 11:17:51 PM Ignore Blue48 Report Abuse BAD NEWS FOR THEM!
861270 All-Star Author Toledo Posts:805 Points:505,950 Joined:Sep 2002	Message Posted: Jul 27, 2012 11:17:34 PM Ignore 861270 Report Abuse we suck
ClevelandWheele Veteran Author Florida Posts:308 Points:285,185 Joined:Dec 2010	Message Posted: Jul 27, 2012 11:16:00 PM Ignore ClevelandWheele Report Abuse ok
Tracer2008 All-Star Author Alberta Posts:540 Points:312,445 Joined:Sep 2008	Message Posted: Jul 27, 2012 11:15:48 PM Ignore Tracer2008 Report Abuse Supply and demand Make a product that the u.s would prefer to buy and you will get customers...
Is246 Champion Author Albuquerque Posts:1,010 Points:425,330 Joined:Apr 2011	Message Posted: Jul 27, 2012 11:14:32 PM Ignore Is246 Report Abuse This may be bad for them but makes good business sense for the US.
Fitwit Champion Author Stockton Posts:6,387 Points:1,353,780 Joined:May 2009	Message Posted: Jul 27, 2012 11:13:50 PM Ignore Fitwit Report Abuse No Comment.
drobbbb Champion Author Maryland Posts:3,466 Points:810,380 Joined:Dec 2010	Message Posted: Jul 27, 2012 11:10:10 PM Ignore drobbbb Report Abuse need to be more self reliant
efwosu Sophomore Author Columbus Posts:236 Points:91,000 Joined:Mar 2011	Message Posted: Jul 27, 2012 11:08:19 PM Ignore efwosu Report Abuse All this despite the clown in chief's efforts to minimize america's potential? Pack your bags you damn fool!
serrog Champion Author Nova Scotia Posts:5,554 Points:1,510,180 Joined:Oct 2008	Message Posted: Jul 27, 2012 11:05:25 PM Ignore serrog Report Abuse FRacking is dangerous
72_Monte Champion Author Twin Cities Posts:7,760 Points:1,994,510 Joined:Aug 2005	Message Posted: Jul 27, 2012 11:04:51 PM Ignore 72_Monte Report Abuse Gotta get off oil sometime soon anyway.
adr47 Champion Author Saskatchewan Posts:5,667 Points:1,178,750 Joined:Nov 2008	Message Posted: Jul 27, 2012 11:01:35 PM Ignore adr47 Report Abuse OK
jjjleblanc Champion Author Rochester Posts:5,862 Points:1,516,380 Joined:Jun 2008	Message Posted: Jul 27, 2012 11:01:33 PM Ignore jjjleblanc Report Abuse What took so long?
AnObserver Champion Author New Jersey Posts:8,344 Points:2,255,830 Joined:Sep 2005	Message Posted: Jul 27, 2012 11:01:04 PM Ignore AnObserver Report Abuse That's the global energy market