Largest oil refinery on East Coast will close after fire

[durablend]

Source: Associated Press

The owner of the largest oil refinery complex on the East Coast is telling officials that it will close the facility after a fire last week set off explosions and damaged equipment there.

Philadelphia Mayor Jim Kenney said in a statement Wednesday that Philadelphia Energy Solutions had informed him of its decision to shut down the facility in the next month. The more than 1,000 workers there will be impacted, the mayor said.

The amount of gasoline that will be lost from the refinery is sizable, but it can easily be made up by imports from Europe or elsewhere, said Jonathan Aronson, research analyst at Cornerstone Macro.

"We're not expecting any major shocks to retail gasoline (prices)," Aronson said. Consumers are more likely to feel gasoline prices increase due to the price of crude oil, which has been rallying in recent days, he said.

Read more: https://lancasteronline.com/news/largest-oil-refinery-on-east-coast-will-close-after-fire/article_14716f71-e92e-5066-89ca-9aeca12a8765.html

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Me thinks us folks on the east coast will be bending over further real soon.

[Mr Jimmy]

1. Shut down all of the carbon spewing climate destroying filthy refineries

Folks will be forced into clean environmentally friendly electric cars whether they like it or not.

[cstanleytech]

2. That is a really bad idea.

Why? Because a transition from gas to electric will take time largely because not enough electric cars can be produced to replace the number of gas powered cars currently in use.
That kind of transition will probably at a guess take 2 to 3 decades due both to the lack of parts to build the cars plus the need to equip the factories building gas powered cars with the proper tools to build electric powered ones.

[Loki Liesmith]

4. Wanna throw hundreds of millions into grinding poverty?

And kill tens of thousands?

Than yeah, do that.

Otherwise try coming up with a transition plan.

[LanternWaste]

5. It's fun to pretend posters have the power to throw millions into poverty.

As long as we both realize pretense is all it amount to... on both sides.

[Loki Liesmith]

7. It's fun to pretend there was a point to that reply.

Actually it wasn’t fun, it was a waste of time. Goodbye.

[SkatmanRoth]

6. Welcome to DU Mr Jimmy

There is lots of good stuff going on here too.

[EX500rider]

9. Right? I mean who cares if the semi's & trains stop rolling and food disappears from all the stores

Millions starving to death, sounds like a plan.

[Mr Jimmy]

10. But what about the climate?

The poster above says it will take 2 or 3 decades to get everyone out of petrol powered vehicles.
20 or 30 years!
Do we have that long?

Maybe a little pain now will avoid greater pain later.

[EX500rider]

11. All the US metropolitan populations starving to death is not "a little pain now"

[VMA131Marine]

3. Philly getting hit hard with closures

171-year-old Hahneman Hospital to close


https://www.inquirer.com/business/hahneman-hospital-philadelphia-closing-20190626.html

[ROB-ROX]

8. THIS COULD START THE DEPRESSION RECESSION

Closing a refinery always leads to higher costs for fuel. Importing fuel from Europe means HIGH costs. I live in California I wonder how this will affect the cost of fuel here? Logically there should be NO affect but oil companies look for ANY reason to raise the cost. Currently, the cost has dropped $0.60 in the past few weeks???

[cbelle1039]

12. Why would we import fuel. I thought we were pretty much every independent and an exporter?