{"id":47768,"date":"2022-10-26T09:14:30","date_gmt":"2022-10-26T13:14:30","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=47768"},"modified":"2022-10-26T09:14:30","modified_gmt":"2022-10-26T13:14:30","slug":"delta-owns-an-oil-refinery","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=47768","title":{"rendered":"Delta Owns An Oil Refinery!?!?"},"content":{"rendered":"

On Monday, Hot Air<\/a> posted an article about the current energy problems in America (and worldwide).<\/p>\n

The article quotes The Washington Post<\/a>:<\/p>\n

The country is down to 25 days of diesel supply<\/span> with stockpiles at their lowest level for this time of year in records going back to 1993<\/em>. In the Northeast, where more people burn fuel for home heating than anywhere else in the country, inventories are a third of their typical levels<\/span> heading into winter<\/em>. National Economic Council Director Brian Deese called the levels \u201cunacceptably low.\u201d By late October, diesel prices had risen for more than two weeks to 50% above where they were a year ago.<\/strong><\/p>\n

The Wall Street Journal<\/a> reports:<\/p>\n

The Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration<\/em> in its early stages dating back to the end of World War II, according to a Wall Street Journal analysis.<\/strong><\/p>\n

The article includes the following chart:<\/p>\n

\"\"<\/a>The article at Hot Air reports:<\/p>\n

Where does Delta come into all this, after the commodities and doom and gloom lecture? That\u2019s kind of interesting, too. At the top of the post, where I linked to those three PA refineries being closed in 2012? One of them was the Trainer facility, and it was given an EPA reprieve, of all things. CONOCO-Phillips still wanted to unload it, and Delta Airlines bought it as a hedge against oil prices and jet fuel shortages. They lost their butt owning it for years<\/em> \u2013 as a small refinery fighting the EPA mandates tooth and nail didn\u2019t help \u2013 and repeatedly tried to unload it, but, HEY<\/em>! There\u2019s been a sudden turnaround. Things are looking rosy and they are looking prescient. From April<\/a>:<\/strong><\/p>\n

Delta will see a benefit of 20 cents per gallon of jet fuel <\/em>from its refinery, which acts as a hedge against the spike in fuel. In particular, the refinery supplies fuel for Delta\u2019s York operations, but Chief Financial Officer Daniel Janki said Monroe Energy\u2019s output acts as a 40-50 percent fuel hedge across Delta\u2019s network. In the first quarter, the refinery knocked about 7 cents off each gallon of jet fuel Delta consumed.<\/strong><\/p>\n

When Delta first bought the Trainer, Pa., refinery from Conoco Philips \u2014 now Philips 66 \u2014 in 2012, analyst opinions were mixed. Some argued it was a stroke of genius on the airline\u2019s part, while others said it was too far afield from Delta\u2019s core operations to make sense for an airline with no experience in selling or marketing petroleum products. The years since have been up and down for the refinery but now, with oil prices spiraling up in the wake of the Ukraine war, the refinery is proving its worth.<\/strong><\/p>\n

The refinery generated $1.2 billion in revenue in the first quarter, compared with $48 million in the same quarter in 2019, Delta said in its first-quarter results. About 80 percent of its output is diesel and gasoline, prices of which have surged. \u201cOur Monroe refinery provides a unique benefit, acting as a partial hedge to elevated cracks,\u201d Janki said. \u201cThis is especially true with New York Harbor Jet cracks, where our production at Monroe provides 100 percent offset.\u201d<\/strong><\/p>\n

It really is time to rediscover American energy independence!<\/p>\n

 <\/p>\n

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On Monday, Hot Air posted an article about the current energy problems in America (and worldwide). The article quotes The Washington Post: The country is down to 25 days of diesel supply with stockpiles at their lowest level for this … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[15903,11968,15902,14981,1583,8401,8367],"class_list":["post-47768","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-conoco-phillips","tag-delta-airlines","tag-diesel-fuel-supply","tag-federal-oil-and-gas-leases","tag-hot-air","tag-the-wall-street-journal","tag-the-washington-post"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/47768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47768"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/47768\/revisions"}],"predecessor-version":[{"id":47770,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/47768\/revisions\/47770"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}