March 19, 2015 |
Pennsylvania's new governor pitched the state to the energy industry Tuesday morning during a conference at the Convention Center. "We should be fertile ground for you to come and do your business," Gov. Wolf said in a speech at Globalcon, an event for the energy industry hosted by the Association of Energy Engineers. Pennsylvania will be increasingly friendly to energy-efficient businesses under his administration, Wolf said. He also touted his plan to reduce the corporate income tax. The tax currently is 9.99 percent; Wolf said he wants it reduced to 5.99 percent by next year.
January 8, 2015 |
Why so slow? Pennsylvania is one of the states where fewer people are working than in 2007. This isn't quite new. Job growth here has been half the national average for the last 75 years, writes senior economist Mark Vitner and his team at Wells Fargo Securities L.L.C. , the investment arm of the Philadelphia area's dominant bank, in its yearly report reviewing the state's economy. Last year, Pennsylvania suffered layoffs at military contractors, steelmakers, drugmakers. Home prices went flat, and Philadelphia developers are building so many apartments, they are risking a glut - unless the city attracts "considerably more jobs and residents," according to Wells Fargo.
December 21, 2013 |
The Pennsylvania Supreme Court on Thursday struck down provisions of the state's Oil and Gas Act that stripped municipalities of the power to determine where natural gas drilling activity could occur within their boundaries. The long-awaited decision is a blow to a 2012 law known as Act 13 that was promoted by Gov. Corbett and the Marcellus Shale natural gas industry as a means to create a uniform statewide standard for gas development. By a 4-2 vote, the court ruled that the zoning provisions in the law were unconstitutional, though the court disagreed on the grounds for striking down the law. "The bottom line is that the majority of the court agreed that Act 13 is unconstitutional, and that local governments can zone oil and gas drilling like they do other activities," said Jordan B. Yeager, a Doylestown environmental lawyer who argued the case on behalf of several municipalities.
January 19, 2013 |
New Jersey's one-year moratorium on the controversial technique of natural-gas extraction known as fracking expired Thursday with little fanfare. While energy industry officials maintain that the natural-gas deposits in the state's northwest corner are too deep and uncertain to make hydraulic fracturing economically viable in the near term, environmentalists have lobbied heavily for continuing the ban as protection against the type of development seen across the Marcellus Shale formation in Pennsylvania.
January 7, 2013 |
Before many Pennsylvania moviegoers settle in for Matt Damon's film about the fight over natural gas drilling, they will see a message from the energy industry offering "straightforward facts" about hydraulic fracturing. The unorthodox, on-screen pre-rebuttal of Promised Land , which opens nationwide Monday, is part of an industry campaign aimed at heading off criticism about the process known as fracking. Instead of direct attacks, which the industry used against the documentary Gasland, it is trying to paint Damon's movie as derivative, condescending, and cliched.
September 13, 2012
Attacks were acts of war The "sites" were U.S. embassies in Egypt and Libya ("2 U.S. sites are attacked; American reported slain," Wednesday). The dead are Americans - U.S. Ambassador Chris Stevens and three members of his staff. These attacks are acts of war. The date was 9/11. Have we already forgotten that radical Islamists are at war with us? This story should have been on the front page, not A5. Tom Messmer, Blue Bell Government boosts to economy With unemployment stubbornly high, it's time for politicians to focus on what is working in today's economy: tailoring government policies to help specific industries thrive ("Markets shrug off lukewarm jobs data," Saturday)
October 3, 2011
By Andy Swiger Over the next three years, Philadelphia will play a special role in getting America's economy moving again. The city's historic shipyard will be home to the construction of two enormous tankers - 115,000-ton, state-of-the-art vessels designed for the safe and efficient transportation of crude oil. This will be no small engineering feat and no small investment. ExxonMobil is spending $400 million on the tankers' construction. For the city, this will mean more than a thousand jobs and millions of dollars in revenue.
May 24, 2011 |
The Pennsylvania solar-energy industry is collapsing under the weight of its own good fortune. Spurred by hundreds of millions of dollars in federal and state incentives, solar developers have built so many projects in recent years that they have created an oversupply of solar-energy credits, the market instruments that provide the developers with a critical income stream. The price of solar credits in the state has plummeted as much as 75 percent in the last year, dramatically shrinking the income-producing potential of new and existing solar projects.
April 8, 2011 |
A national leader came to Philadelphia this week and expended a lot of energy and rhetoric on the subject of renewable energy. Of course, I'm talking about Rhone Resch , president and chief executive officer of the Solar Energy Industries Association . He spoke at the PV America Conference 2011 at the Convention Center, which attracted photovoltaic-module manufacturers and solar-panel dealers from around the country to Philadelphia for...
December 11, 2008
Oil prices are a double-edged sword for the energy industry. High prices slow demand, but they still can boost profits, though the equation looks different to a refiner such as Philadelphia's Sunoco Inc. than to oil-rich competitors. "They like to say that they don't widen their margins, but when you've got a $100 barrel of oil and your margin is 10 percent, you're making $10. When it's $50, you're making $5," said Joel Naroff, chief economist for TD Bank N.A. Naroff said the whole energy sector faced lingering effects from this year's spike in oil prices above $147 a barrel, even though some analysts expect prices to stay in the $40 to $50 range next year.