Episode
Marginal utility: Lack of new capacity leads to boom time for North America refining (Ep. 256)
- Podcast
- EnergyCents
- Published
- Aug 6, 2026
- Duration seconds
- 1974
- Processing state
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Summary
Fresh investment in North American refining infrastructure stalled in prior years as the sector braced for long-term demand destruction. However, capacity has fallen faster than demand and profit margins are now healthier than many expected. Refining expert Debnil Chowdhury joins hosts Hill Vaden and Sam Humphreys to discuss the North American refining landscape and how disruptions in the Strait of Hormuz and Russia are contributing to high utilization and profitability for the sector. Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en