The International Maritime Organization (IMO) has established a deadline of 2020 for ocean-going vessels to reduce their collective sulfur emissions by more than 80, to 0.5. Sulfur is currently present in marine fuel at a percentage of 2.7. However, the cleanup effort would require refiner investments of around $150B in secondary refining capacity to produce cleaner-burning middle distillates-investments that oil companies appear reluctant to make.
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