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Oil Companies Look at Permanent Refinery Cutbacks

 The response to slumping gasoline use would likely mean higher prices for drivers. Consumer advocates want regulators to examine the firms' plans. Energy companies are suffering huge losses from refining because of slumping gasoline use -- a product of the economic downturn and changing consumer habits and preferences. Energy experts say refining cutbacks have already begun and will accelerate as corporations strive for profits.

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LA Times