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Saving America’s East Coast Refineries – Three Philadelphia Case Examples (2095)

Conference
Brownfields 2013
Location/Room
Track
How is the Market Working Now? Real Estate, Finance, and Jobs
Format
Town Hall Meeting
Level
Intermediate
Moderator  
DENISE BRINLEY, TRC COMPANIES
Speaker  
JAMES FALLON, IHS - A consultant specializing in the petroleum downstream industry for IHS. (more)
Speaker  
LISA RUNYON, PES
Speaker  
MICHAEL KRANCER, BLANK ROME - Until he was nominated by Governor Tom Corbett to be... (more)

In today’s economy and regulatory climate, the refining industry continues to struggle with the peaks and valleys of the commodities market, several closures were recently announced, including three large refineries in Pennsylvania. Historically, responses to refinery closures have included the initiation of master planning studies to promote and support potential redevelopment concepts. In Philadelphia, however, advances in domestic oil & gas development has resulted in a reliable abundance of less expensive feedstocks, leading to reinvestment in the refineries and an evolution of manufacturing and processing. The development of unconventional (shale) oil and gas plays such as the Bakken formation in the Dakotas (oil) and the Marcellus formation in Pennsylvania (shale gas) have allowed for continued operation of these three refineries. This town hall will focus on refinery success stories, facilitated in part, by smart federal and state government involvement and economic incentives and the oil and gas market. The results include thousands of saved jobs and billions of dollars in projected private capital investment.

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