January 28, 2016 |
Authorities on Tuesday identified the source of a diesel-fuel spill that leaked about 250 gallons of oil into the Schuylkill River. A portion of the Schuylkill River Trail remained closed Tuesday while crews continued the cleanup effort. The spill occurred when a sensor in an outdoor, covered generator on the 2400 block of Market Street malfunctioned, said Nick Ameen, a spokesman for the U.S. Coast Guard, the lead agency in the cleanup. The generator is owned by a company called CenturyLink, a communications and IT company, Ameen said.
January 27, 2016 |
About 200 gallons of home heating oil spilled into the Schuylkill Monday morning, resulting in the closure of the river trail in Philadelphia between Market and Locust Streets, officials said. A total of 4,200 gallons of oil spilled sometime before 9:30 a.m. from a tank at 2400 Market St., crossing CSX property and the Schuylkill River Trail before partially draining into the river, officials said. The popular trail was closed in the area as the spill was assessed and then the cleanup began, the state Department of Environmental Protection reported.
January 20, 2016 |
Brent crude traded near a 12-year low in London, briefly dipping below $28 a barrel, as the lifting of international sanctions on Iran paves the way for increased supply amid a global glut. Futures fell 1.3 percent after earlier dropping as much as 4.4 percent in London to the lowest since November 2003. Iran is beginning efforts to boost output and exports by 500,000 barrels a day now that restrictions have ended, Amir Hossein Zamaninia, deputy oil minister for commerce and international affairs, said Sunday.
January 4, 2016
Steve Yetiv is a professor of international relations at Old Dominion University and the author of "Myths of the Oil Boom: American National Security in a Global Energy Market" Oil prices have fallen dramatically to the mid-$30s on the New York Mercantile Exchange from more than $105 per barrel in 2014. Such extraordinarily low prices are affecting global stock markets, big oil exporters, and consumers worldwide. How can we explain this crash, and where are oil prices headed?
December 20, 2015 |
WASHINGTON - Rep. Patrick Meehan, a Delaware County Republican, voted against a $1.1 trillion spending bill that cleared the House and Senate on Friday, warning that a key provision could hurt the oil refineries that employ thousands in the Philadelphia area. Meehan and Sen. Pat Toomey (R. Pa.) were the only lawmakers from the region who voted against the bipartisan package, a sweeping compromise that will keep the federal government running for the next fiscal year but also includes enough policy riders in its 2,009 pages to please and anger seemingly everyone.
December 10, 2015 |
A central Pennsylvania energy company that aspires to become the "Amazon of energy" is expanding its presence in the Philadelphia area with the acquisition of a King of Prussia oil transporter. Shipley Energy, of York, a jack-of-all-trades fuel dealer that markets a broad range of energy products in 13 states, announced that it had acquired Gleba Inc., a bulk-petroleum trucking company that primarily delivers ethanol to fuel terminals for blending into finished gasoline. The price was not disclosed.
November 17, 2015 |
Josh Garfield, 64, of Ardmore, a marketing executive and oil painter, died Wednesday, Nov. 4, of cancer at his home in Boca Raton, Fla. He and his family had just relocated to Florida after 26 years in Ardmore. Mr. Garfield was marketing director of Garfield Refining Co., a precious-metals business that has been in the Garfield family for three generations. He held the position for many years, working from an office in the 800 block of East Cayuga Street in Philadelphia. Born in the city and educated in Lower Merion and Boston, Mr. Garfield aspired to become an artist.
September 23, 2015 |
A Washington Township man who caused an oil spill into a lake and creek last year while emptying his pool was sentenced Monday to five years of probation, contingent on his completing 150 hours of community service, the New Jersey Attorney General's Office said. John Caldwell, 48, pleaded guilty in May after authorities charged him in connection with the June 29, 2014, spill that unleashed several thousand gallons of oil into Spring Lake and Mantua Creek. Authorities said Caldwell, then a truck operator for an environmental services firm, used a vacuum truck to drain the water from his pool and dumped it in front of his home on Uranus Road.
September 17, 2015 |
The New York Stock Exchange is threatening to delist the shares of embattled Radnor oil producer Penn Virginia Corp. for failing to maintain an average closing stock price of at least $1 for the last 30 consecutive trading days. Under NYSE rules, Penn Virginia will regain compliance if, on the last trading day of any calendar month in the next six months, its closing share price and its consecutive 30 trading-day average closing share price are at least $1 per share. Penn Virginia's shares have sunk in the last year along with the oil price; its 52-week price has ranged from $13.99 to 71 cents.
September 7, 2015 |
The U.S. oil boom has been a salvation for the Philadelphia area's embattled refineries, creating an abundant source of discounted petroleum that instantly improved their competitiveness. Those refiners now fear that a movement in Congress to lift a ban on exporting crude oil will erase their newfound market advantage. They worry that overseas refiners will gobble up U.S. crude and sell it back to Americans in the form of gasoline, diesel, and heating oil. "By lifting export restrictions and sending our crude overseas, we would be sending American jobs overseas, as well," Jeffrey Warmann, chief executive of Monroe Energy refinery in Trainer, testified at a Senate Energy Committee hearing in March.