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Install a new fuel gas system by December 2010 to burn cleaner natural gas instead of fuel oil, reducing SO2 emissions by thousands of tons per year. This would cost $28 million to $38 million. Install new pollution controls on heaters and boilers by December 2010 at cost of $20 million, reducing annual NOx emissions by approximately 900 tons.
Standard Oil, being formed well before the discovery of the Spindletop oil field (in Texas, far from Standard Oil's base in the Midwest) and a demand for oil other than for heat and light, was well placed to control the growth of the oil business. The company was perceived to own and control all aspects of the trade.
Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene.
The original Standard Oil company was based in Ohio, though John D. Rockefeller moved Standard Oil's assets under the control of Standard Oil of New Jersey. After the breakup, the company continued primarily operating in Ohio, and entered a joint-venture with BP in Alaska during the 1960s. [ 35 ]
Frank Whittemore Abrams (June 24, 1889 – July 17, 1976) was an American engineer and oilman. Abrams joined the Standard Oil Company (New Jersey) in 1912 as a draftsman at the company's Eagle Works refinery in Jersey City.
In 2016, largely in response to dramatically falling oil prices due to U.S. shale oil output, OPEC signed an agreement with 10 other oil-producing countries to create OPEC+. Josh Boak contributed ...
Oil prices have been in focus recently for drivers and the Fed. With a new bout of violence in the Middle East, market observers are keeping close tabs on any effects to energy markets.
Buckeye Partners, formerly known as the Buckeye Pipeline Company, is a distributor of petroleum in the East and Midwest areas of the United States. A direct descendant of Standard Oil, the company is considered one of the largest independent oil pipelines in the United States. [3]