Vision
North American Energy Security and the Need for New American Capacity
Energy security and independence are vital priorities for the United States. Currently, this country imports more than 13 million barrels of crude oil and petroleum products each day, over 40% of it from OPEC nations. The volatile political situation in the Middle East, Nigeria and Venezuela make those supplies increasingly unstable.
In addition, because nearly half of America’s refinery capacity is located in the Gulf Coast region, energy supplies are vulnerable to the storms that routinely batter that area. For example, in 2005, Hurricane Katrina damaged or destroyed a significant amount of refining capacity, at least 20 oil rigs in the Gulf of Mexico and shut down 95 percent of the region’s oil and natural gas production. This one storm cut off nearly one-third of America’s energy supply and curtailed 10% of U.S. refining capacity.
It is vital to our national security that we have the ability to produce clean fuels such as low-sulfur gasoline outside the Gulf region, close to the source of the crude supply and major markets. Canada, our country’s largest supplier of crude oil, plans to increase production by over 2 million barrels per day over the next decade. This presents an unprecedented opportunity for the United States to take a significant step toward energy security and independence by siting production facilities in America’s Heartland.
Enhancing America’s energy security and independence is the mission of Hyperion, a company committed to changing the way the oil industry does business. Central to implementing that mission is the Hyperion Energy Center, a state-of-the-art site for locating symbiotic energy facilities. Much like the industrial parks in many communities, this center maximizes the economies of scale of shared infrastructure. The flagship of the Center is Hyperion’s oil refinery and power plant.
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The refinery will be a 400,000 barrel-per-day greenfield facility. This highly-complex, full-conversion facility will produce green transportation fuels - ultra low sulfur gasoline and ultra low sulfur diesel.
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The power plant will be a hydrogen producing integrated gasification combined cycle (IGCC) facility that consumes the refinery's petroleum coke byproduct to produce hydrogen, power and steam for the refinery.
Like an industrial park, the Hyperion Energy Center will be developed so that other facilities can be integrated into the center. All facilities associated with the Hyperion Energy Center will be required to incorporate the most advanced emission technologies and adhere to our comprehensive green principles, because at Hyperion we are dedicated to raising the standards against which the entire energy industry is judged.
Hyperion embraces a new vision for American energy independence, one that takes advantage of both the new stable crude oil supplies and state-of-the-art technologies.
This vision is founded on three principles:
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America needs additional stable crude oil supplies.
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North American oil should stay in North America.
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Energy facilities – including refineries - should be more environmentally sensitive and technologically cutting edge.
The challenge exists: How can the United States take advantage of additional oil production resource from a trusted friend, Canada?
The answer is simple: Establish a more secure energy supply by building clean, advanced, environmentally friendly refining capacity in the Heartland of the United States, which can supply major markets.
In looking at the way the United States produces energy, Hyperion’s business philosophy is clear: We can, and should, do better.