In May 2007 the Federal Trade Commission failed to win a preliminary injunction in U.S. District Court that would have blocked the merger of two refiners that served Albuquerque, NM and surrounding areas. This study compares estimates of the post-merger price effect to the price effects...

These days, China’s exports of petroleum products are rapidly growing. The country has seen a decline in the growth of domestic demand for petroleum products as it adapts to the new normal, where less rapid growth is projected. At the same time, its refining capacity already outpaces domestic...