Repost from KQED Science
[Editor: Following election day, KQED public radio ran a pair of interesting stories. – RS]
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Passage of two out of three local measures may just set the stage for next battle. Continue Reading
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A local environmental group is declaring victories for open space preservation and smart growth in the Bay Area. Continue Reading
Repost from The San Antonio Business Journal
[Editor: Significant quote: “Valero should benefit from rising oil production from shale plays and the Canadian oil sands. However, the refining industry remains volatile and is susceptible to swings of weaker economic conditions, excess industry refining capacity, narrowing margins or reduced throughput rates and higher biofuel blending costs.” – RS]
Valero Energy Corp. beat analyst expectations on Tuesday by reporting net income of $1.1 billion, or $2 per share, for the third quarter ended Sept. 30, 2014. This compares to net income of $312 million, or 57 cents per share, for the same quarter a year ago.
Analysts had been projecting San Antonio-based Valero (NYSE: VLO) to report earnings per share of $1.57 for the third quarter.
President and CEO Joe Gorder said the company’s financial results benefitted from wider discounts for sweet and sour crude oils relative to Brent crude oil, stronger gasoline margins in most of the regions where the company operates and higher refining throughput volumes.
During the quarter, Valero continues to expand capital investments in the company’s refining and logistics business, which gives it the ability to process more North American crude oil. Valero completed construction of a 70,000-barrel-per-day rail unloading facility at its Port Arthur refinery and received additional rail cars. The company also secured the option of purchasing a 50 percent interest in the planned Diamond Pipeline which, when completed, will connect Valero’s Memphis refinery to the crude oil hub in Cushing, Okla.
Analyst Stewart Glickman in her research report at S&P Capital IQ placed a hold recommendation on Valero’s stock. In the report, Valero should benefit from rising oil production from shale plays and the Canadian oil sands. However, the refining industry remains volatile and is susceptible to swings of weaker economic conditions, excess industry refining capacity, narrowing margins or reduced throughput rates and higher biofuel blending costs.
Additional details on the company’s financial performance can be found here.
Repost from Washington Utilities and Transportation Commission
OLYMPIA, Wash. – Rail safety regulators in Washington state submitted comments today expressing concern about the proposed Grays Harbor Rail Terminal (GHRT) in response to the Environmental Impact Statement (EIS) scoping.
The Utilities and Transportation Commission (UTC) sent a letter to GHRT addressing specific concerns and requesting rail safety evaluations during the EIS process.
“In the UTC’s view, the EIS should evaluate the potential impact of the GHRT on the safety of the public on and around all railroad lines and crossings that would be used to deliver crude oil to the facility. Currently, up to six trains per day serve the Port of Grays Harbor. Increasing the train traffic could potentially require upgrades to the rail infrastructure, including upgrading track, new crossings, or new or expanded sidings or upgrades to existing crossings.”
Repost from FireEngineering.com
The University of Illinois Fire Service Institute introduces a new awareness-level course on Crude Oil by Rail. The class is in response to increase crude oil rail traffic from the Bakken oil fields in North Dakota and Montana, as well as the 2013 train explosion disaster in Lac-Megantic, Quebec.
The class is being offered through IFSI’s Cornerstone program that provides no-cost training to Illinois firefighters at their local fire department or regional training site.
The Crude Oil by Rail Awareness class introduces students with the recent increase in crude oil shipments by rail. This course covers the basic chemical and physical properties of the types of crude being transported. In addition, students learn about basic railcar design features, unit vs. manifest trains, common railroad terminology, and techniques for contacting and working with the railroad. The course will touch on tactics and strategies for handling crude oil train derailments, but will not teach the student how to employ these tactics. Lastly, the course will look at case studies of recent crude train derailments and discuss lessons learned.
Fire departments are encouraged to contact their IFSI regional representative to learn more and to schedule a class. The regional representatives are listed on IFSI’s web site at www.fsi.illinois.edu.
The Illinois Fire Service Institute is the statutory State Fire Academy for Illinois. In addition to training provided at its Champaign campus, the Institute offers one-day hands-on classes for fire departments at Regional Training Centers and local fire stations across the State. The mission of the Illinois Fire Service Institute is to help firefighters do their work through training, education, information and research.