With capacity on the Keystone piplines already substantially spoken for, Hyperion Refining said it's considering building its own "bullet line" directly from Hardisty, Alberta to the proposed site of the refinery, located just north of Elk Point. That would ensure a dedicated supply of heavy crude, said Hyperion vice president Preston Phillips.
The Hyperion Energy Center would turn the tar sands crude into low-sulfur gasoline, diesel, jet fuel and liquid petroleum gas.
Hyperion backers have championed the refinery as having the potential to increase fuel supplies and lower prices in the tri-state region. Phillips has pointed out PADD 2 - the U.S. Department of Energy district that takes in 15 Midwestern states, is deficient in gasoline, diesel, and other oil products, importing about 1 million barrels per day of refinery to meet demand.
The Dallas, Texas-based developer intends to break ground on its $10 billion project by the end of this year. Read More....
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