August 21, 1990 |
OPEC refused yesterday to schedule an emergency session to consider increasing oil production to alleviate the shortage caused by the Mideast crisis, but Saudi Arabia and Venezuela appeared ready to lead such a meeting anyway. The dispute unsettled world oil markets, with prices mostly finishing higher. In Caracas, Venezuelan President Carlos Andres Perez said a consulting group within OPEC would meet if the full 13-nation cartel did not agree to a session. "Venezuela will increase its production when there is an accord within OPEC because we are committed to attending (to)
February 18, 1988 |
A Teamsters spokesman yesterday said that the union would launch a worldwide strike against Pan Am Corp. on Sunday, but the troubled carrier pledged to remain "fully operational" if the 4,500 union members walk out. Frank Bertucelli, business representative for Local 732 of the Teamsters' Airline Division, said the Teamsters will walk off the job at 12:01 a.m. EST Sunday, the end of a federally mandated 30-day cooling-off period in the union's dispute...
September 6, 2012 |
Who knew that the economic solution for the region's beleaguered oil refineries would arrive on a slow train from North Dakota? Delta Air Lines, the new owner of the Trainer refinery that is scheduled to reopen later this month, on Thursday became the third fuel producer in the Philadelphia area to announce plans to bring in crude oil by rail from the Bakken oil field in the upper Midwest. Edward Bastian, the airline's president, told an investor conference in New York that Delta plans to replace some imported oil at Trainer with domestic crude brought in by rail.
November 30, 2010
THE FREE-enterprise system is broken. Stupidity reigns. What's the root of today's economic distress? Does it have anything to do with the financial recklesness of Wall Street and our banking system bringing the economy to its knees? Certainly! Warren Buffet described the "financial weapons of mass destruction. " You make loans on the borrowers ability to repay, not on Wall Street repackaging them and passing the risk of default on to someone else. But the real prime mover of today's financial mess is rooted in the oil condition of the country.
June 16, 2006 |
When you pilfer your band's name from a children's book about a mouse and then write bouncy, call-and-response songs that feature a tap dancer instead of a drummer, you run the risk of becoming a novelty act. Remarkably, Tilly and the Wall manage to avoid that problem while retaining their exuberant essence on the new Bottoms of Barrels. To its basic lineup of folk-pop guitar, thrift-store keyboards, amplified taps, and gang girl-boy vocals, the Omaha quintet fleshes out songs such as the flamenco-style "Bad Education" and the roller-rink rockin' "Urgency" with bass, drums, strings and/or horns.
February 14, 1997 |
Sun Co. Inc., wounded by hefty losses, forecast yesterday that changes initiated eight months ago would cut annual operating costs by $105 million. The Philadelphia company announced the cost-cutting changes in June, but, until the announcement yesterday, had provided no specific savings forecast. "The strategy Sun put in place beginning last summer . . . will improve Sun's profitability and strengthen its competitive position," chairman Robert H. Campbell said. Half of the anticipated savings will come from major improvements at the Philadelphia and Marcus Hook refineries, which together lost $37 million in 1995 and $60 million last year.
August 21, 1990
For years the government has bought oil - almost 600 million barrels in all - and stored it in salt caverns in Texas and Louisiana. Now, Saddam Hussein is menacing the Mideast, the world is going without 4 million barrels a day from Iraq and Kuwait, oil prices are gyrating, and the U.S. economy is teetering. So politicians are shouting what many an American is thinking: Stop hoarding it and start using it. One politician who disagrees is President Bush - and he happens to control the oil's release.
August 10, 1987 |
For years, Stephen A. Van Dyck has looked for ways to stay close to the sea. In 1964, he sailed on the victorious Constellation in the America's Cup Race off Newport, R.I. Six years later, he was aboard the Intrepid as it defeated its rival, the Gretel II. In all, Van Dyck has competed in four America's Cup Races and five transatlantic races. These days he will frequently gather his wife, three boys, and occasionally some friends, and head to quaint Oxford in Maryland to sail the Chesapeake Bay in his 42-foot ocean-racing boat.
October 9, 1990 |
Oil production by members of the Organization of Petroleum Exporting Countries rose to 22.49 million barrels a day in September, making up for 3 million of the 4 million barrel-a-day shortfall caused by the embargo on oil from Iraq and Kuwait, the Middle East Economic Survey reported yesterday. But the newsletter, published in Nicosia, Cyprus, said the world still faced a supply crunch late this year. It said OPEC members would produce 22.5 million barrels a day in the final quarter, while demand for OPEC oil would be 23.9 million barrels a day. Most of the increase in production came from Saudi Arabia, which in September was producing 2.1 million barrels a day more oil than in July.
March 18, 1987 |
A growing reliance on imported oil could threaten the national security unless the federal government takes steps to revive the domestic oil industry, according to a report by the U.S. Energy Department. The study says the United States will rely on foreign countries for 50 percent of its oil by 1995 if demand continues increasing and domestic production keeps dropping because of low oil prices. At a press conference yesterday, Energy Secretary John S. Herrington said the government must enact incentives to encourage domestic producers to pump one million more barrels of oil a day to lessen the nation's growing dependence on oil from such politically unstable areas as the Persian Gulf.