For a period of time, several Philadelphia-area refineries – a tremendous source jobs and economic activity – were in jeopardy of closing permanently for various reasons.
But thanks to shale development, these regional institutions have been revitalized. MSC CEO Kathryn Klaber, in a Philadelphia Inquirer column, writes this about this positive progress underway:
Philadelphia’s refinery sites are experiencing new life that few could have predicted just a few years ago – buoyed by abundant supplies of natural gas, a fundamental building block for a strong manufacturing sector. Energy Transfer Partner’s acquisition of Sunoco and the Carlyle Group’s Sunoco investment are proof of the undeniably positive impact that shale-gas development continues to have on greater Philadelphia’s economy. Thousands of jobs will be saved. The prospects for leveraging Marcellus Shale natural gas are indeed promising for Sunoco’s Marcus Hook refinery, especially in light of this week’s announcement, and may well be a lifeline for hundreds of jobs. Despite the current economic difficulties, the long-term regional outlook is shifting – for the better.
