Just a few years ago, gasoline in the U.S. cost $4 a gallon and there were worries the nation did not have enough oil refining capacity. Now the recession and more emphasis on fuel efficiency has driven down demand while refineries have been built and expanded in China, India and the Middle East.
For the oil refinery business, particularly in Delaware and southern New Jersey, that means drastic cutbacks. More than 1,000 oil refinery workers in that area around Philadelphia have lost their jobs in the last few months. Analyst Anne Kohler of Caris & Co. says she expects more refineries will be idled in the East, on the Gulf Coast, and in Europe. Download: Keeping Talented Employees Download this White Paper for 10 key actions that will help keep talent around.
Full Story: Refinery struggles bruise NJ communities - BusinessWeek
For the oil refinery business, particularly in Delaware and southern New Jersey, that means drastic cutbacks. More than 1,000 oil refinery workers in that area around Philadelphia have lost their jobs in the last few months. Analyst Anne Kohler of Caris & Co. says she expects more refineries will be idled in the East, on the Gulf Coast, and in Europe. Download: Keeping Talented Employees Download this White Paper for 10 key actions that will help keep talent around.
Full Story: Refinery struggles bruise NJ communities - BusinessWeek
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