• Should oil-derived products be replaced with renewable fuel and chemical production?
  • From petrol to plastics, oil-derived products define modern life. A bold plan to change that comes with huge costs ¡ª but researchers and policymakers should take it seriously. Today¡¯s crude-oil refineries will need to be replaced with renewable fuel and chemical production to achieve net-zero goals. Credit: Brandon Bell/Getty
  • Could new refineries be able to separate hydrocarbons from biofuels?
  • However, Lively says, the new membranes could quickly be adopted in new refineries built to separate hydrocarbon mixtures created from biofuels or synthetic fuels made using renewable electricity. ¡°That¡¯s really ripe territory,¡± Lively says. Crude oil is a mixture of tens of thousands of chemicals.
  • What will a future refinery look like?
  • This future refinery will require substantially larger areas and greater mineral resources than is the case at present and critically depends on the capacity to generate large amounts of renewable energy for hydrogen production and carbon dioxide capture.
  • Are conventional oil refineries slow to adopt separation systems?
  • He and others also caution that conventional oil refineries may be slow to adopt them, because companies have already sunk costs into installing conventional separations systems.
  • Will refineries become unprofitable in the next decade?
  • As costs rise and margins contract, many refineries will become unprofitable. Remaining profitable amid industry headwinds¡ªand seizing the opportunities presented by the energy transition¡ªwill be the key to survival. In short, the next decade will separate the winners from the losers in the refining business.
  • Are refineries at a crossroads?
  • And despite the current favorable market conditions for refineries, it is increasingly clear that the industry is at a crossroads. Consumer demand for refined products is likely to peak in the next ten years, and the imposition of additional carbon pricing schemes will add costs to what has historically been a low-margin business.