An Entirely Predictable Bankruptcy
Philadelphia Energy Solutions
By Institute for Energy Research —— Bio and Archives--January 24, 2018
Global Warming-Energy-Environment | Comments | Back To Full Article
On Monday, Philadelphia Energy Solutions (PES) announced it is filing for bankruptcy. PES operates the largest oil-refining complex on the east coast, with its two refineries capable of processing 335,000 barrels of oil per day. In filing for bankruptcy, PES citied its inability to pay for the 2018 cost of complying with the Renewable Fuel Standard (RFS), which mandates ever increasing levels of biofuel be mixed into the nation’s fuel supply regardless of demand or even whether the biofuels actually exist.Welcome to CFP’s Comment Section!
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