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  • Featured Analysis
  • An Entirely Predictable Bankruptcy

  • January 23, 2018

  • On Monday, Philadelphia Energy Solutions (PES) announced it is filing for bankruptcy. PES operates the largest oil-refining complex on the east coast, with its two refineries capable of processing 335,000 barrels of oil per day. In filing for bankruptcy, PES citied its inability to pay for the 2018 cost of complying with the Renewable Fuel Standard (RFS), which mandates ever increasing levels of biofuel be mixed into the nation’s fuel supply regardless of demand or ev...
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On Monday, Philadelphia Energy Solutions (PES) announced it is filing for bankruptcy. PES operates the largest oil-refining complex on the east coast, with its two refineries capable of processing 335,000 barrels of oil per day. In filing for bankruptcy, PES citied its inability to pay for the 2018 cost of complying with the Renewable Fuel Standard (RFS), which mandates ever increasing levels of biofuel be mixed into the nation’s fuel supply regardless of demand or ev... Read More
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