Refiner goes belly-up after big payouts to Carlyle Group

Reuters Feb. 20, 2017 By Jarrett Renshaw Throughout 2016 and 2017, a rail terminal built to accept crude oil for the largest East Coast refinery often sat idle, with few trains showing up to unload. Although little oil flowed, plenty of money did. Under a deal Philadelphia Energy Solutions (PES) signed in 2015, the refiner […]

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The Jones Act, a century-old maritime law, proves tough to sink

Washington Examiner Feb. 6, 2018 By Diana Stancy Correll Lawmakers and leaders of the maritime industry are rallying support for the Jones Act, a law intended to protect American shipping and maritime interests, as critics try to repeal or provide exemptions to the rule. The Jones Act was established in 1920 as part of the […]

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What’s the real story behind Philadelphia Energy Solutions’ bankruptcy, crude oil, and the Renewable Fuel Standard?

Biofuels Digest Feb. 1, 2018 By Joelle Simonpietri On Jan 21st 2018, Carlyle-backed Philadelphia Energy Solutions (PES), the largest refinery complex on the U.S. east coast at 335,000 barrels per day, filed for Chapter 11 bankruptcy, blaming Renewable Fuel Standard (RFS) compliance costs. In the week since the filing, the Washington Examiner reports several other […]

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Trump’s trade chief clashes with Canada, Mexico in NAFTA talks

Politico Jan. 29, 2018 By Doug Palmer and Adam Behsudi The high-stakes NAFTA talks appear to be finally headed on a slow-but-steady forward course, but negotiators remain under pressure to deliver quick results to alleviate the threat of President Donald Trump withdrawing from the pact. “We believe that some progress was made,” U.S. Trade Representative […]

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Signs of Progress in Nafta Talks but Countries Remain Deeply Divided

The New York Times Jan. 29, 2018 By Ana Swanson Discussions to revamp the North American Free Trade Agreement moved from stalemate to actual negotiation during the sixth round of talks that concluded on Monday, but a deal was still far from guaranteed as Mexico, Canada and the United States continue to squabble over how […]

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