Fueling The American Economy

Posted

Fueling The American Economy @ (NAPSA)—While gas station operators are generally the most crude oil reserves in the Western they actually represent a long line strength, combined with the visible faces of the oil industry, of workers who keep the nation’s fuel supply moving. The global oil exploration, production, refining, supply anddistribution network is integral to the American economy, providing thousands of jobs and often supporting charities and local communities. For many people, it is a mys- tery how oil gets from the ground to the gas station. Crudeoil is the raw material used in the production of many products such as gasoline, jet fuel, plastics and asphalt. The U.S. demandfor this valuable commodity far exceeds what can be produced domesti- cally. As a result, foreign crude Hemisphere, providing a unique source of strength and pride. This sound policies aligned with the vision of the shareholder, allows CITGO to successfully confront the current economiccrisis. With a refining capacity of about 749,000 barrels per day, the company generates more than 6,000 American jobs and con- tributes more than $100 million annually in state and local taxes. After entering the distribution process, gasoline mixes with fuel from other refineries around the country. The refined product is then transported by rail, barge and, commonly in the case of gasoline, an extensive domestic pipe- line network. must be imported. “Refining operations receive oil As the Energy Information Administration confirms, this North America, the Caribbean, South and Central America, West Africa, Russia, Algeria and the Middle East,” stated Gustavo exact source of gasoline purchased by consumers. As a result, boycotts from a variety of sources including makes it impossible to identify the of certain fuel brands only hurt the and marketing for CITGO. “Like other major fuel suppliers, we get a considerable supply of crude oil local retailers, rather than the countries that supply the crudeoil. “The oil industry is extremely important for many people across the United States. Countless jobs diverse supply of crude, CITGO the individual steps in the com- available to produce refined products in spite of severe weather.” CITGO, we take pride in the fact that our refining and distribution operations—as well as our network of nearly 7,000 station owners—support charity and commu- Velasquez, vice president of supply from Venezuela. With such a can ensure the raw material is The backing of its shareholder, Petrleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela, gives CITGO access to the largest are created and sustained through plex process,” said Velasquez. “At nity programs andare truly a part of their communities.”