Shell agrees to keep open a refinery proposed to be shut down

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Marketplace Morning Report – MN Public Radio

CHERYL GLASER, anchor: We’ve steered clear of at least one thing that could’ve driven up prices at the pump. As MARKETPLACE’s Lisa Napoli reports, it looks like a key refinery isn’t going to shut down after all.

LISA NAPOLI reporting: With gasoline supplies so tight, consumer groups argue any slowdowns in the country’s fuel production would lead to greater spikes in prices. That’s why word of a proposed refinery shutdown by Shell in California angered watchdog groups and prompted antitrust investigations at the national and state levels. Now Shell‘s agreed to keep the refinery open for another six months and to look for a qualified buyer. Jamie Court of the Foundation for Taxpayer and Consumer Rights says he sees a bigger story in Shell‘s change of heart.

Mr. JAMIE COURT (Foundation for Taxpayer and Consumer Rights): Regulators and legislators working with whistle-blowers and consumer groups can stop an oil refiner that’s trying to short the market.

NAPOLI: Antitrust investigations against Shell are continuing. I’m Lisa Napoli for MARKETPLACE.

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