Phildadelphia Oil Refinery coming to an end

Unless China steps in and buys our refineries, Obama’s wish via the EPA has made it cost prohibitive to Refine our crude oil apparently. “Level of investment needed”  was the operative statement for the closure of the facility. Anyone who has been through the Philadelphia area knows what  huge Oil farms and refineries there are. Now thanks to Obama, there will be no refineries. Where are the jobs?   Here is a hint: We can have all the oil in the world, and without the capacity to refine it, it is worth zilch. Sunoco, BP, Conoco Phillips, gone in a year.

By next summer, Philadelphia could switch from being the center of the East Coast’s oil-refining industry to a historical footnote.

Willie Chiang, ConocoPhillips’ senior vice president of refining, marketing, transportation, and commercial, said in a statement that “the decision to sell is based on the level of investment required to remain competitive.

Even though the economy is down and there are concerns about the oil industry, Meehan (House Representative for the District)  said, the demand for oil in the region and across the country will increase as the economy strengthens. The country needs to keep its production up, he said.

“We’re surrendering this industry to Nigeria, to China and to India,” Meehan said, adding that deals would likely need to be struck in the next six months to a year.

ConocoPhillips’ announcement Tuesday that it plans to sell or shut down its Trainer, Delaware County, refinery was expected, especially after Sunoco Inc. announced a similar decision three weeks earlier.

But that does not lessen the impact of the potential loss of 410 jobs at the 91-year-old refinery that ConocoPhillips has owned since 2002, when Conoco Inc. acquired Phillips Petroleum Co.

The shutdown has already begun. Spokesman Rich Johnson said that by the end of the week the Trainer refinery would no longer process crude oil. All employees will work through the end of the year, he said. Philly.om

Back in February we posted about the sad state of our Refineries:

BP to sell two U.S. Refineries-who will be the buyer

There are two major refineries in the United States going up for sale and people are wondering who will buy them. BP has decided to sell two of the refineries it owns, one in California and the other in Texas. From USA Today:

“The market may be slightly underwhelmed by the lack of a more radical restructuring plan, but with Macondo still an ongoing issue it may be too early for BP to implement more radical plans,” said Richard Griffith, analyst at Evolution Securities.

BP did not say how much it expected to gain from the sale of its U.S. refineries, which include the Texas City refinery where 15 workers died in an explosion in 2005.

It said it had spent more than $1 billion modernizing the Texas City plant, but noted it “lacks strong integration into any BP marketing assets.” However, BP said it will keep the chemicals complex at Texas City.

The company said it also hopes to sell the Carson refinery near Los Angeles along with its marketing business in southern California, Arizona and Nevada. The company plans to concentrate its U.S. refining and marketing activity at Whiting, Ind., and Cherry Point, Wash., as well as in its 50% stake in the Toledo, Ohio facility…

H/T:Blue Collar Philosophy

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METHANE EXPLOSION IN THE GULF POSSIBLE

Not that I begrudge LeBron James his day in the limelight,  but all that news is pushing the oil spill off the radar.  Does the MSM do this on purpose?  The big news is, the oil spill  isn’t about the oil anymore.  The big problem is the fissure robotics are detecting on the ocean floor.

According to oceanographer John Kessler the methane levels in the oil coming from the sea floor now are at 40 % compared to the normal 5% found in typical oil deposits.

The media has been kept away from the emergency salvage measures being taken to forestall the biggest catastrophe in human history. The federal government has warned them away from the epicenter of operations with the threat of a $40,000 fine for each infraction and the possibility of felony arrests.  Not sure why Diane Sawyer was talking to a reporter on a boat out there yesterday but its safe to say they aren’t going to say anything the God King doesn’t want said.

But why is the press being kept away? Word is that the disaster is escalating.

A huge gash on the ocean floor—like a ragged wound hundreds of feet long—has been reported by the NOAA research ship, Thomas Jefferson. Before the curtain of the government enforced news blackout again descended abruptly, scientists aboard the ship voiced their concerns that the widening rift may go down miles into the earth.That gash too is hemorrhaging oil and methane. It’s 10 miles away from the BP epicenter. Other, new fissures, have been spotted as far as 30 miles distant.

If it does blow, Jindal won’t have a coast line to worry about anymore.  Tsunami, chemical cocktails and far worse scenarios are expected.

Matrix thinks maybe following LeBron on the news isn’t such a bad idea.  Thinking about the implications of this makes you want to keep your head in the sand.   But that doesn’t mean our government should.

Noble Prize Kickass Chu says BP Going to help Save the World

Don’t you just love the internet? And of course  Youtube!

From Drudge:

FLASHBACK VIDEO 2007: Obama Energy Secretary Says BP Going to Help Save World…

BLAME GAME IN THE GULF

Why is the US Treating the Brits like dirt? And ONLY the Brits??

-> While 40 per cent of BP’s major shareholders are in Britain,  Americans have a 39 per cent stake. BP reportedly has twice as many American as British employees.

-> The US Government auctioned the mineral rights for one tract, the 5,700-acre Mississippi Canyon Block 252, which were bought by BP in March 2008 in an auction held at the Louisiana Superdome in New Orleans.  It was called Lease Sale No 206. BP Paid $34 million.

-> The federal Mineral Management Service (MMS) then charges 18.75 per cent royalties on the oil that is recovered. After that, both State and Federal governments will tax the gasoline which is the end product.

BP subsequently sold 35 per cent of the rights to two other oil firms.

-> 10 % stake, is MOEX Offshore 2007 LLC. wholly-owned subsidiary of the Mitsui Oil Exploration Co, of Tokyo, Japan

-> 25 % stake is Anadarko Petroleum Corp. A Houston based American company.

-> Transocean who built the rig has its roots in Alabama. Although its moved its headquarters in search of better tax deals but still the majority of its work force [26,000] are located in the US.

-> Transocean’s Deepwater Horizon rig was built in South Korea by Hyundai Heavy Industries, ten years ago.

-> Transocean was under contract to BP at a rate of $500,000 a day to drill the Macondo Prospect well.

Aboard the deepwater-Horizon on the evening of April 20 were 126 crew. Only seven were employees of BP79 of the others worked for Transocean, including the rig’s commander Capt Curt Kuchta. The rest were from a variety of other firms, including Anadarko, Halliburton and M-I Swaco (Texas based engineering services).

Nine of those killed worked for Transocean. The other two were employed by MI Swaco. All the dead were local Americans.

Why are these other companies not held to task?  They are not even mentioned.  And they made no mention of their lost employees?

More in Depth here:

CNBC Analyst Says Obama is “Once Again Creating His Own Sense of Legal System”

The purpose of Obama is so clear. Is anyone out there? Great Vid over at BreitbartTV. Now he has 20 Billion to give to his cronies.

The analyst pointed out that “once again,” President Obama has “created his own sense of legal system. He fired the CEO of General Motors. He circumvented the rights of bondholders in the GM situation, and now he’s confiscated $20 Billion from a private company to set up “a financial and legal framework that already exists. It’s not his job to create laws, it’s his job to enforce laws.”

The analyst is absolutely right. Obama has armtwisted BP into placing $20 Billion that will now be controlled by and doled out by the Government. This will undoubtedly be used to make the people of the Gulf Coast feel beholden to who? Barack Obama. And that’s the point. Those who have truly suffered loss as a result of the Spill should absolutely be able to ask for compensation from BP. But they should be paid by BP – not Obama’s Government. They should also be able to sue BP using the already established U.S. Court System, and that should not be circumvented by some arbitrary process created by the Obama Administration.

H/T Weasel Zippers

Toward the end of the video, the analyst reminded everyone, “There’s a thing called “due process” my friends.” Someone needs to remind Obama of that. But it’s clear he see himself as standing above the law.

H/T Breitbart.tv

Obama Managing Crisis ‘Horribly’: Jack Welch

Calling Jack Welch– so here is what to do— grab a couple of  CEO’s and roll, Zero. This is what they do– manage situations. I know you like the golf, the plane, the parties, but for just once?…. and you spent 20 minutes with BP and 90 mintues having lunch with Biden today and instead of picking their brain?? Jack Welch:

Here’s the difference between a businessman and a politician: Businessmen focus on solutions. Politicians focus on ‘who can we blame?'” he said. “We have to be managers right now, not politicians. No photo ops.”

The administration’s finger-pointing is a petty distraction while the oil continues to gush, according to Welch. “There will be time for a criminal investigation when the oil stops leaking out of the ocean. Until then, every resource should be directed towards solving that problem,” he said.

But Welch thinks that selling the push towards renewable energy as a “jobs package” is “crazy.” The incident may have been a stark reminder of the hazards of oil production, but Welch believes that the world will be using fossil fuels in the near future

http://www.cnbc.com/id/37588210

Obama to speak tonight and tell us how lucky we are to have him as our Ass Kicker in Chief

“The one” will make us whole. Keep sucking Zero.

President Barack Obama’s nation address is at 8 p.m. ET on Tuesday; the address that the president will give is expected to be 15 minutes long and will cover the Gulf oil crisis. In addition to the address will president’s meeting with BP executives on Wednesday.

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