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Carlisle Group's investment keeps Sunoco's Phila. refinery operating

GasBuddy Blog -- Sunoco's 300,000 bpd refinery in Philadelphia, a facility that was targeted to be closed this month; which in turn would have hurt the regional economy and reduced east coast gasoline supply at the same time, is instead being reborn.

The Carlyle Group, a Washington based private equity firm, announced plans this week to operate the refinery with Sunoco as a joint venture called Philadelphia Energy Solutions.

To say that east coast motorists dodged a bullet would be a striking understatement. The region's population density can ill afford to lose refining capacity and it was on the brink. With Carlyle's investment, the complex now has a promising future as an "energy hub," says Philadelphia Inquirer reporter Andrew...

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Submitted Jul 05, 2012 By: PD
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BoerneWatch
Champion Author San Antonio

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Message Posted: Jul 7, 2012 10:16:48 AM
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Damn capitalists!!!

This is a major blow to environmentalists and their decades long campaign to eliminate "reliance" on oil.

Here is an example of what Bain Capital provided (Mitt Romney's background).
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52MPG
Champion Author Dayton

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Message Posted: Jul 6, 2012 10:56:43 PM
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Sounds good for gas prices.
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jerej829
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Ok
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snappytom2
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Message Posted: Jul 6, 2012 5:01:47 PM
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Hmm.
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Alfied
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Beef it up. Fuel is needed.
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gasoutherneagle
Champion Author Georgia

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Message Posted: Jul 6, 2012 3:33:38 PM
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Yea, This is the first of hopefully more good news to come!
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Grismer
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Message Posted: Jul 6, 2012 3:31:38 PM
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A good resolution then and now.
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ItisAJeepThing
Champion Author Tucson

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Message Posted: Jul 6, 2012 3:14:51 PM
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This was Good News for the East Coast yesterday, so I suppose that it is still good, but stale news.
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PK33
Champion Author Ann Arbor

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Message Posted: Jul 6, 2012 3:11:54 PM
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It's nice to hear some positive news every once in awhile :)
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slowtrain
Champion Author Georgia

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Message Posted: Jul 6, 2012 3:09:06 PM
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Good.
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peapaw
Champion Author Ohio

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Message Posted: Jul 6, 2012 3:08:48 PM
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Carlyle saved the east coast gas prices from at least a $1 a gallon price increase.
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Teddy95
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Hmmm...
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Jmac2008
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ok
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GoGoGoodyear
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Message Posted: Jul 6, 2012 3:04:32 PM
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Someone came to their senses and realized the profit potential in keeping the refinery open. Sunoco was giving up because they didn't think they could get their hands on enough cheap crude oil, but someone else comes along and decides that it's worth the money to rebuild a spare piece of equipment so the refinery can process more of the heavy crude oil. It's all about profits and one set of eyes seeing opportunity where others can't.
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SpankyMI
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Message Posted: Jul 6, 2012 3:02:28 PM
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We need 3 or 4 brand new refineries ASAP!
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honkerman
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Message Posted: Jul 6, 2012 2:59:57 PM
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Refine the refining process.
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30mpg80
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Message Posted: Jul 6, 2012 2:59:20 PM
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The gasoline is needed, but imported Brent crude price was the problem
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arcaneradio
Champion Author Michigan

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k
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boldrph
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Message Posted: Jul 6, 2012 2:55:56 PM
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could the people use energy more wisely and have no need of this refinery?
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adgam
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Message Posted: Jul 6, 2012 2:55:11 PM
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Yep
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garman87
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Message Posted: Jul 6, 2012 2:54:09 PM
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Hope they keep it open then.
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moesmith
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Message Posted: Jul 6, 2012 2:52:15 PM
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ok
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pmanning7843
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ok
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gils
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ok
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Gasazhunter
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Cool.
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FreeeBee
Veteran Author Atlanta

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Message Posted: Jul 6, 2012 2:47:13 PM
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One refinery causing the hike in Gas prices? is that a stupid joke?
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papa56NC
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Message Posted: Jul 6, 2012 2:46:27 PM
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Git-ur-dun
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metrojeep
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Message Posted: Jul 6, 2012 2:44:58 PM
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Interesting
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humancry
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ok
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Double_Golden
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Message Posted: Jul 6, 2012 2:41:49 PM
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nice job ur doing Carlisle....
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jacob5066
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Good
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dong1971
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ok.
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mitchells
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Message Posted: Jul 6, 2012 2:39:06 PM
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Good news. If they had closed it, and say another refinery had an accident, where would they make up the shortfall, if all of them are running at 99.5% capacity?

They should not be decreasing capacity in the system
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camaro_man
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Message Posted: Jul 6, 2012 2:37:12 PM
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wow
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RedskinGas
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Yesterday's news.
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dchiou
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that's good
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THX138
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$ $ $
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bullfrog69
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Message Posted: Jul 6, 2012 2:34:03 PM
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Sunoco , Over priced gas!
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pachukdog1
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Message Posted: Jul 6, 2012 2:33:57 PM
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good job
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ratones1
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OK...
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GreenLegend
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Message Posted: Jul 6, 2012 2:30:41 PM
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Energy is a national security commodity.
We need it for a strong economy and for our military.
We need a champion in Congress to rise to the occasion and stop the predatory, speculative nonsense in the energy industries.
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19sheldon43
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Most likely purchased for pennies on the dollar
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smoketown
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Good for them............
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chicoCA
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Message Posted: Jul 6, 2012 2:19:33 PM
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okay
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saleboss
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This was a good article yesterday also!
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fightbigoil71
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Could help the east coast
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svspyda
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great news
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gasper
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Great news for that part of the country.
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_angel35_
All-Star Author Michigan

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gives me a faint glimmer of hope that 'common sense' isnt dead...just dying...
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spedygonzales
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good
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