In the long term, refiners need to keep two things in mind.
First, a refinery won't just produce fuels; it will produce
energy and chemicals. Second, the interaction of economic and
environmental concerns will significantly affect how the
hydrocarbon processing industry does business.
Near term, much of the refining industry's investment over
the next five years will be committed to resolving
environmental issues. Some of this investment will be for
reducing emissions from the refinery itself, but much more will
be allocated to make lower sulfur fuels, replace MTBE in
gasoline and deal with other potential issues such as a lower
level of benzene in gasoline.