The manufacturing sector, already a leading component of the U.S. economy, would benefit significantly if the crude oil ban were lifted, according to a new study.
The U.S. petrochemical resurgence is being closely watched in Europe where companies are wondering whether the deluge of North American shale gas will sap away their competitive advantage.
When DWT tanker Shoko Maru caught on fire recently it was described as one of the worst accidents in energy shipping in the past decade. And a recent study shows that product tankers are considered the most accident-prone shipping types, followed by LPG tankers.
When TransCanada first proposed the Keystone XL pipeline in 2008, the company hoped it would be done by 2012 and begin carrying heavy crude from the Alberta oil sands in Western Canada down to the U.S. Gulf Coast. Six years later the pipeline remains in limbo, stymied by Department of State reviews, route adjustments, lawsuits, environmental and economic studies, and (most important) an Obama administration that appears truly divided on the issue. Last month the State Department announced that no decision would come until after November's midterm elections.
