MDU and Calumet had hoped that strong regional demand for the engine fuel would justify the project's cost when ground was broken in Dickinson in 2013. Construction delays, weather and other factors pushed the final cost to about $430 million, about 40 percent above initial estimates.Beyond North Dakota's pain, the refinery industry itself is stressed, an unusual situation as it is historically boosted by cheap crude. Growing fuel inventories and weak demand are now hammering refiners both large and small, turning a typical advantage on its head.
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Sunday 8 May 2016