"Partially inverted refiners syrup", it states demurely on the label.
What refiners pay for oil has fallen even as petrol and diesel stay pricey.They should enjoy it while they can.
For refiners it is a welcome respite from a long spell of gloom.
But the government cannot force refiners to produce this stuff rather than, say, petrol for cars.
Independent refiners like Essar and Valero are prepared to spend more time and money than big oil firms.
The federal Renewable Fuel Standard, passed in 2005 and updated in 2007, requires that by 2022 refiners blend 36 billion gallons of renewable fuel such as ethanol and biodiesel into motor fuel.
The upshot is that local refiners can buy cheap Cushing crude and sell petrol at dearer global prices.
It hints that it has proprietary data from BP and Arco themselves that concern sales to a small group of refiners relying on Alaskan oil.
Refiners must sell 40% of their output to the public distribution system at a loss.
In any case, with corn prices near records and a federal mandate that requires refiners to blend a growing amount of biofuels with petrol, neither farmers nor the ethanol industry will suffer much.America's sky-high deficit has also changed the equation on taxes.
The kingdom has responded by sending more cargoes to American refiners.
