Philly Refinery to Close Following Massive Fire – 1,020 Jobs Lost

Philadelphia Energy Solutions (PES), which operates the East Coast’s largest refinery on the banks of the Delaware River, was already wobbling because of onerous federal regulations that require refiners to blend in biofuel with gasoline and diesel, or purchase very expensive credits. PES can’t blend, so they must buy the credits, which put them under water financially, forcing them into bankruptcy last year (see Philadelphia Refinery Files for Chapter 11 Bankruptcy). Following a series of explosions and a massive fire last week (see Massive Explosion, Fire at Philadelphia Refinery), PES has announced it will be closing down over the next two weeks, throwing 1,020 people out of work.

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