Congressional, State Hearings Sought on Likely Price Spikes, Oil Shortfalls

Three United Steelworkers (USW) local union oil refinery leaders spoke here today about the negative effects on employment and Northeast oil product supplies and prices if the three Philadelphia area refineries slated for closure are allowed to stop production permanently. They called for congressional and state hearings to investigate the matter and the replacement of U.S. oil production with oil product imports.

Sunoco announced in September that its Philadelphia and Marcus Hook, Pa., refineries would close in July 2012 if a buyer was not found. On Dec. 1 the company announced it was idling its Marcus Hook refinery because of poor margins. At the end of September, ConocoPhillips announced it was immediately idling its Trainer, Pa., refinery.

According to reports, the three refineries can process more than 700,000 barrels a day of oil, or about 46 percent of the region’s refining capacity that serves nearly six million families in the Northeast region ... more