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Oil

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NEWS
June 12, 2010 | By Renee Schoof, McClatchy Newspapers
WASHINGTON - Plans to burn hundreds of thousands of gallons of oil from BP's blown-out well are raising new questions about the health and safety of the thousands of workers on rigs and vessels near the spill site. BP and the federal government are in new territory once again in dealing with the nation's worst environmental disaster: There has never been such a huge flaring of oil in the Gulf of Mexico, or possibly anywhere. The incineration of such huge amounts of oil combined with the black clouds of smoke already wafting over the gulf waters from controlled burns of surface oil create pollution hazards for the estimated 2,000 people working in the area.
NEWS
July 3, 2008 | By Sam Wood and Allison Steele, Inquirer Staff Writers
An 84-year-old woman died at a Burlington County hospital Monday night two days after drinking tiki torch lamp oil that she had mistaken for apple juice. Four other people across New Jersey have gotten sick since May from accidentally drinking the amber liquid, prompting state officials to issue a health alert yesterday about the hazards of ingesting it. Officials have urged people to keep tiki torch fluid far away from foods and common areas to avoid confusion. "Lamp oil bottles closely resemble juice containers and the colors of those fluids is indistinguishable from juice," said Bruce Ruck, spokesman for the state Poison Information and Education System.
NEWS
December 30, 2014 | Inquirer Editorial Board
Sometimes it seems as if America, at 238 years old, is suffering from a sort of midlife crisis that has it questioning its strength and leadership. Questioning is fine; few are pleased with Washington these days. But it was more troubling to hear some critics suggest that President Obama should be more like Russian President Vladimir Putin. Some were apparently impressed by the machismo Putin displayed in invading Ukraine even though it was morally wrong. Much of that sentiment evaporated as casualties mounted in the war Putin incited to keep Ukraine firmly in Russia's orbit rather than the European Union's.
NEWS
May 10, 2006
GAS PRICES will never be what they used to be, we know that. Is it just coincidental that the fictional oil crunch just happens to coincide with the introduction of hybrid automobiles? If gas were so scarce, why hasn't SEPTA had a fare increase? Yet they were going to allow a strike over healthcare benefits, something they were already paying for. Darnell Perry Sr., Philadelphia
NEWS
April 18, 2000 | By Dave Barry
If you've been to a gas station lately, you have no doubt been shocked by the prices: $1.67, $1.78, even $1.92. And that's just for Hostess Twinkies. Gas prices are even worse. Americans are ticked off about this, and with good reason: Our rights are being violated! The First Amendment clearly states: "In addition to freedom of speech, Americans shall always have low gasoline prices, so they can drive around in 'sport utility' vehicles the size of minor planets. " And don't let any so-called "economists" try to tell you that foreigners pay more for gas than we do. Foreigners use metric gasoline, which is sold in foreign units called "kilometers," plus they are paying for it with foreign currencies such as the "franc," the "lira" and the "doubloon.
NEWS
August 17, 1996 | by Ramona Smith, Daily News Staff Writer
The drilling rig is coming to South Philadelphia. A contractor for the Sun Co. is expected to begin sinking test wells next week in the Passyunk Homes housing project to find out how far underground petroleum has spread from a nearby military supply base. The drilling will "bore far enough down to tell where the plume is likely to be," said Rob Goldberg, a spokesman for the Department of Environmental Protection. The immediate concern is the extent of contamination from the Defense Personnel Support Center, near the Schuylkill Expressway, rather than Sun's own property, where the company is cleaning up other plumes of oil. The base, Sun and the DEP have agreed on a need to pinpoint contamination in the area.
NEWS
July 28, 2012 | By Sandy Bauers, Inquirer Staff Writer
The thieves had pulled a white van up to the back of the snazzy Chestnut Street restaurant Buddakan. Were they stealing cash, or the giant golden Buddha? A stash of the popular "dip sum" doughnuts? Nope. They were after the used cooking oil. With biodiesel production increasing and prices for feedstocks - including used cooking oil - soaring, a waste product that restaurants once paid to get rid of is now a commodity targeted by thieves. Greenworks Holdings, a group of companies that collect used cooking oil and convert it into biofuel, serves about 13,000 restaurants, mostly in the northeastern states.
NEWS
January 29, 2013 | By Tom Avril, Inquirer Staff Writer
Pour a few handfuls of chopped-up corn stalks or switchgrass into a hopper. Heat rapidly. Funnel the resulting mixture through an intricate network of metal pipes and canisters. Out the other end - drip, drip - comes a thick brown liquid that looks an awful lot like oil. Called bio oil, it is not quite the same as what comes out of a well. But it is close enough that government scientists think the process, called fast pyrolysis, is a promising way for farmers to enhance energy security.
BUSINESS
April 27, 1986 | By Diana Henriques, Inquirer Staff Writer
It could be an oil-producing nation on the Persian Gulf: Oil taxes generate nearly 85 percent of government revenues. In the boom years, it launched scores of expensive projects - schools, roads, hospitals - all across what was once a wasteland. Now, the boom has fizzled. Per-capita income is down, and thousands of skilled workers from elsewhere are packing up to go home. Or, it could be an oil-dependent Latin American debtor nation: It owes nearly $1 billion, almost all of it due in 10 years or less.
NEWS
May 22, 2001
To me, the Arctic refuge represents everything spectacular and everything endangered about America's natural heritage: a million years of ecological serenity . . . an irreplaceable sanctuary for polar bears, white wolves and 130,000 caribou.. . .For 20,000 years - literally hundreds of generations - the native Gwich'in people have inhabited this sacred place, following the caribou herd and leaving the awe-inspiring landscape just as they found it. . . . It is a sad day indeed when our President and congressional leaders would sacrifice America's largest wildlife refuge for the sake of a possible six-month supply of national energy.
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NEWS
February 23, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The Philadelphia region's petroleum refineries, many of which faced closure four years ago, have experienced an economic revival, thanks to the arrival of a virtual pipeline of domestic crude oil by rail. But the same petroleum from North Dakota's Bakken oil field has been implicated in a succession of dramatic North American rail accidents in the last two years, most recently Monday in West Virginia. Video images of orange fireballs erupting from crumpled tank cars near the village of Mount Carbon last week reignited concerns that the same thing could happen here.
NEWS
February 20, 2015 | BY MARTIN SCHRAM
  A HUGE COLUMN of fire shot skyward - then fanned out in all directions at once, becoming a massive fireball that seemed to hover over tiny Mount Carbon, just downriver from Boomer, W.Va., which is officially a "census-designated place" of 813 people. Suddenly, Monday afternoon's winter sky glowed a nightmarish fire-bright orange - and well into the night it remained a massive warning flare, visible to folks miles away. Officials ordered hundreds to evacuate their homes. Witnesses told reporters the usual things ("like an atomic bomb," "wrath-of-God")
BUSINESS
February 3, 2015 | By Erin E. Arvedlund, Inquirer Columnist
The drop in oil prices may have an upside: Historically, the S&P 500's performance is mixed during a radical oil-price sell-off, but it rebounds an average of 23 percent 12 months later. So notes Chuck Widger, founder and chairman of Brinker Capital, who generally keeps a low profile despite his $17 billion investment firm in Berwyn and his long performance record. Widger has a new book out: Personal Benchmark (Wiley, 2014), coauthored with behavioral-finance expert Daniel Crosby.
FOOD
January 30, 2015 | By Natalie Pompilio, For The Inquirer
As Vetri chef Alicia Walter prepared for a recent seven-week trip to study olive oil production in the Mediterranean, she was warned that it wouldn't be pretty. The industry had a rough year, blamed on too much rain in some areas and not enough in others. An olive-eating fruit fly had ravaged crops in Italy and left a dent in Greek olive orchards, as well. Still, she didn't realize how bleak the situation was until she walked into the groves and talked with the devastated families who relied on olive oil for their livelihood.
BUSINESS
January 26, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The slowdown in domestic oil drilling is spilling over into the Marcellus Shale natural-gas region. Several large drilling companies have announced plans to reduce 2015 capital-spending plans in Appalachia in response to low energy prices. Some producers and service companies have already announced layoffs. "There's a tightening of capital," said David J. Spigelmyer, president of the Marcellus Shale Coalition, the industry trade group. "Cap-ex [capital expenditure] programs have declined fairly significantly here in the first quarter.
BUSINESS
January 16, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
How long will we enjoy gas below $2 a gallon, or oil below $50 a barrel? "I wouldn't bet on more than a year," Philip Rinaldi, who runs Philadelphia Energy Solutions and its big refinery, storage, and shipping complex in South Philadelphia, told Greater Philadelphia Chamber of Commerce members at their yearly economic forecast breakfast Wednesday. But, like a Wall Street trader, Philadelphia could benefit from Marcellus Shale gas and oil whether world prices rise or fall, Rinaldi added.
BUSINESS
January 13, 2015 | By Erin E. Arvedlund, Inquirer Columnist
If you're brave enough to think oil stocks have been fairly repriced, here are some ideas on how to play the sector. First, here's an exchange-traded fund that broadly represents the energy industry: Energy Select Sector SPDR (symbol: XLE). Its top holdings include ExxonMobil, Chevron, Schlumberger, ConocoPhillips, and EOG Resources. Ernie Cecilia, chief investment officer of Bryn Mawr Trust, instead is buying shares in individual low-cost producers such as EOG and ExxonMobil, he says, as the latter company "can make money with oil even at $40 a barrel.
BUSINESS
January 4, 2015 | By Linda Loyd, Inquirer Staff Writer
American Airlines and merger partner US Airways could enjoy more than $2.5 billion in "tailwinds" in 2015 because Philadelphia's dominant airline does not hedge its jet-fuel costs and does not have profit-sharing with employees, a Wall Street analyst said Friday. American is one of the few major airlines that does not buy hedges, which are futures contracts that lock in fuel prices in advance. Declining oil prices should be worth at least $1.3 billion to American, airline analyst Hunter Keay of Wolfe Research L.L.C.
NEWS
December 30, 2014 | Inquirer Editorial Board
Sometimes it seems as if America, at 238 years old, is suffering from a sort of midlife crisis that has it questioning its strength and leadership. Questioning is fine; few are pleased with Washington these days. But it was more troubling to hear some critics suggest that President Obama should be more like Russian President Vladimir Putin. Some were apparently impressed by the machismo Putin displayed in invading Ukraine even though it was morally wrong. Much of that sentiment evaporated as casualties mounted in the war Putin incited to keep Ukraine firmly in Russia's orbit rather than the European Union's.
BUSINESS
December 23, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Ain't it grand that oil prices are dropping? Yes and no. For consumers, yes, the 40 percent drop, down to $55 or so per barrel, amounts to a massive income boost. Each penny drop in gas prices at the pump equals $1.4 billion a year in extra disposable income, according to Bill Dunkelberg, professor of economics at Temple University. The best part, he says, is that American dollars aren't leaving the country like they did in 2008, when $150-per-barrel oil enriched OPEC nations. "Now we're going to start collecting those oil revenues here when prices rebound," he adds.
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