Calif. ethanol switch to boost gas prices, refiner profits

Newswire

By Erwin Seba HOUSTON, Nov 24 (Reuters) - California's switch to ethanol as a pollution-reducing gasoline additive will likely mean bad news at the pumps for motorists but better profits for the state's oil refiners, analysts say. "It has the potential to be a mess," said Bryan Caviness, of Fitch Ratings. "This is going to have the same effect on supply as removing an entire refinery from California," said one gasoline dealer. "That will have the effect of boosting prices and creating ...

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