https://cwilliamsmallinglaw.com/global_pictures/Bill_Smalling_Will_Refining_survive_the_CAA.pdf
Since the CAA costs as a percent of total annual refinery sales would be just over one percent, the refining industry would survive the CAA. However, the increasing CAA requirements such as GHG regulation through the CAA, the proposed ozone NAAQS and the E15 mandate and the RFS, together with downward U.S. gasoline consumption and refining capacity will increase the business pressures on the refining industry.
All of the costs to comply with the Clean Air Act are front loaded, in an industry that is falling out of favor with government sentiment. The juice isn't worth the squeeze.
The total capacity closed since 2010 is around 1,280,000 BBL/D, most of which is located on the U.S. East Coast.
The article was written in 2011 when there wasn't a shortage of refined products, but a surplus. We are now in a shortage of refined products, but eliminated the capacity to keep up.
CHIEF