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James van blaricum

James Van Blaricum - Strike at Scotland Refinery Forces BP to Shut a Pipeline

PARIS — Workers walked off the job Sunday at the only oil refinery in Scotland, requiring BP to close a pipeline that supplies about a third of Britain’s petroleum needs.

The strike at the site, the Ineos refinery in Grangemouth, began at 6 a.m., after workers of the Unite union and management were unable to agree on proposed pension changes. It was set to run for 48 hours.Signal Oil and Gas

The refinery’s power plant supplies steam and electricity to the nearby Kinneil plant, which processes oil and gas. With the strike, which halted the Kinneil site, BP was forced to close the pipeline, said Joanne McDonald, a spokeswoman for BP. James Van Blaricum

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At the Kinneil plant, crude oil piped in from North Sea oil platforms is “stabilized” and natural gas is drawn off, before about 20 percent of the oil is pumped to the Ineos refinery for processing into fuel, McDonald said. That is enough to meet 30 percent to 35 percent of all British demand.

The remainder is loaded onto tankers to supply the world market, she said.

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McDonald said the pipeline, known as the Forties Pipeline System, “would be operational again within 24 hours” of the projected end of the strike Tuesday. Jim Van Blaricum

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Signal oil and gas - james van blaricum - Clinton Issues Proposal to Relieve Gas Pain

 

James Van Blaricum - Consumers have been increasingly hit hard in the pocketbook by soaring prices for gas at the pump. News Monday added to the gloom. Crude oil prices reached record highs, continuing the climb toward $120 a barrel, and AAA reported the national average price paid at the pump was $3.603 a gallon -- also a record high.
Sen. Hillary Clinton (D., N.Y.) capitalized on this pain Monday by unveiling a new policy proposal. Clinton, like Sen. John McCain (R., Ariz.), wants a gas tax break for consumers, in addition to other measures aimed at popping the speculative bubble in the oil markets.

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Clinton's proposal differs from McCain's. McCain wants to suspend the federal gas tax and stop purchases to the Strategic Petroleum Reserve (SPR) during the summer. Clinton wants to suspend the gas tax, but she plans to pay for it by slamming big oil companies with a windfall tax. Clinton would use the windfall tax to ensure that the Highway Trust Fund continues to receive funds earmarked for repairs. Jim Van Blaricum

 

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