The Impact of Environmental Compliance Costs on U.S. Refining Profitability

Preface

This report assesses the effects of pollution abatement requirements on the financial performance of U.S. petroleum refining and marketing operations. The analysis draws heavily on financial and operating data from the Energy Information Administration's Financial Reporting System (FRS). Pursuant to Section 205(h) of the Department of Energy Organization Act, which established the FRS, the Energy Information Administration, through its Form EIA-28, collects financial information and other measures of energy-related business efforts and results for major energy companies. Since the FRS data are collected on a uniform, segmented basis, the comparability of information across energy lines of business is unique to this reporting system. In 1995, 24 companies filed Form EIA-28. Also essential to the analysis are data on pollution abatement costs and capital expenditures collected and published separately by the Bureau of the Census and the American Petroleum Institute. The information in this report is intended for use by the U.S. Congress, Government agencies, industry analysts, and the general public.

File last modified: October 29, 1997

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