A Merrill Lynch analyst reportedly warns that as many as 12 of the nation's gasoline refineries may close rather than invest in the next level of mandated desulfurization that takes effect in 2004 to 2006 — and that these plants could close before new low-sulfur fuel refining capacity comes on stream. The Blue Island, IL, refinery of Premcor Inc. already has closed, setting off the chain of events expected to create the same type of short-supply situation that gripped the nation last ...

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