U.S. East Coast Diesel Supply Is Running on Fumes
El suministro de diesel de la costa este de EE. UU. funciona con humos
U.S. East Coast Diesel Supply Is Running on Fumes
The horizon south of the Statue of Liberty is interrupted by the silhouettes of several oil-tank farms.
New York harbor is the home of Wall Street and financial wizardry, but it’s also the place where old-school oil traders still buy and sell refined petroleum products the old way, by the gallon, setting benchmark prices.
In the 1990s, Morgan Stanley’s Olav Refvik controlled so many of those tank farms that he was known as “the king of New York harbor.” If Refvik was still trading today, he would find his tanks nearly dry: Diesel, the harbor’s most basic fuel, is very scarce.
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