Plans to turn Philadelphia city into an “energy hub” where natural gas from the Marcellus Shale would be pumped, processed, exported and used as fuel by manufacturers, were given a high-profile sales pitch at a one-day conference in the city last Friday. The Greater Philadelphia Chamber of Commerce and Philadelphia Energy Solutions, a local refiner,… Keep reading →
The news has been buzzing about heating fuel demand and price spikes due to sustained frigid temperatures across much of the US. Roughly 80% of homes primarily heated with oil are located in the northeast, where the market has flipped into backwardation, meaning spot prices are higher than those for future delivery contracts. “This steep… Keep reading →
The Motley Fool has compiled a list of this year’s “Disturbing Energy Blunders”, which includes the train derailment in Quebec that killed dozens, as well as oil leaked form pipelines belonging to the country’s two largest oil and gas companies, ExxonMobil and Chevron. “The hope is that these big blunders will bring about more prudent… Keep reading →
Philadelphia Mayor Michael Nutter said on Monday the city is seeking a buyer for its publicly owned gas utility, the largest of its kind in the US, after an independent report concluded that a sale could raise several hundred million dollars for the city’s general fund.
The study by the investment bank Lazard concluded that the time is right to sell Philadelphia Gas Works because there’s good demand for strategic utility acquisitions, and because interest rates are low. Keep reading →
