Some believe Hawaii needs only one oil refinery or that the state should shift completely to renewable energy, and that the sooner that happens, the better off we will be in Hawaii. Joseph Israel, CEO of Par Petroleum (parent company of Hawaii Independent Energy), gave shared his views on Wake Up 2day.
“Refined petroleum products are an important component in our state’s energy portfolio, even with the state’s shift toward renewable energy and desire for less dependence on fossil fuels by 2030. The refinery of Hawaii Independent Energy, the Hawaii-based subsidiary of Par Petroleum, will continue to play an important role in meeting the state’s energy needs, particularly for jet fuel and other transportation fuels, into the foreseeable future – beyond 2030. I believe we have a business model that is viable and will enable us to remain in Hawaii for the long term,” he said.
What is the relevance of fossil fuels in our state where we have government policies such as the Hawaii Clean Energy Initiative that are looking at ways to wean ourselves off of petroleum energy? “We believe the market should determine what is best for consumers, rather than having policies or laws that favor a specific form of energy over others. We are committed to being in Hawaii for the long term, and believe we have an important role in the overall energy picture in the state. We look forward to ongoing collaboration with the state government and other stakeholders and partners to best meet the energy needs of Hawaii’s residents and businesses,” Israel continued.
Since Par Petroleum acquired Tesoro’s assets in September 2013, Israel explains that the company has continued to look for more opportunities to grow in Hawaii and has made a long-term commitment to the state. “Our acquisition of the 76 stations in Hawaii last week will allow us to optimize our refinery in Kapolei, and efficiently produce more fuels for customers in Hawaii. We believe that having on-island refining capability is in line with maintaining Hawaii’s energy security, versus turning to an import-only operation,” summarizes Israel.
For more on Par Petroleum go to www.par-petro.com.