IC 6850 Petroleum Refineries, Including Cracking Plants, In The United States, January 1, 1935 ? Introductory Summary

Although many small refineries were dismantled in 1934 the total number of plants, including a few under construction, increased from 604 at the beginning of the year to a new high of 638 on January 1, 1935. The capacity also reached a new record, the total of 4,072,400 barrels of crude oil daily being about 45,000 barrels higher than the previous high of January 1, 1932. The number of refineries increased materially in 1933, following construction in east Texas and the building of many small plants in the Rocky Mountain district and elsewhere. Most of the new plants of 1933 were built to provide an outlet for crude or because the ratio between crude oil and gasoline prices appeared conducive to profits However, low gasoline prices and increased costs in 1934 dispelled the hopes for profits; many plants were shut down, and some were dismantled. The number of operating plants declined from 454 on January 1, 1934, to 435 on January 1, 1935, but the number of inactive plants increased from 137 to a new high of 196 during the same period. As indicated above, new construction was at a minimum in 1934, and on January 1, 1935, only 7 plants were being built.