Is natural gas, the energy source that is actually helping to reduce our dependance on foreign oil.
But reduction of our dependency on foreign oil is not necessarily a good thing for the American Citizens who live on St. Croix in the U.S. Virgin Islands.
St. Croix is home to one of the largest oil refineries in the world.
The refinery is owned by Hovensa a partnership of Hess Corp. and Petroleos de Venezuela SA and employs 2000 workers on an Island that has 50,000 residents and is nearly identical in size and shape of Wolfe Island.
The February closure of the refinery is devastating here in the Virgin Islands. Hovensa is running public announcement spots on local television announcing the bad news.
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| The island of St. Croix, VI will loose 2000 jobs with the February closing of Hovensa. Their main economy is tourism. |
The Hovensa refinery burns oil as fuel and was losing its economic advantage to the United States refineries that have been converted to natural gas.
This week, Natural gas for February delivery has fallen to its lowest level since 2009, dropping 12 cents, or 4.5 percent, to $2.55.
6 comments:
Natural gas conversion has been a slowly growing industry. One of the wealthiest men in the world drives a VW converted to NG some time ago. A young person looking for good field to invest his energies and educational experience would do well to get into this growing industry now. NG burning vehicles get the equivalent of 40 mpg and pay less than 1/4th the cost equivalent to a gallon of gas. The high octane also gives you plenty of wiggle room for performance. It's time has come, so has yours oil industry. Estimated supplies say 150 years of production before peak just in New England supplies alone.
In the eighties I had a work van that was converted to natural gas. It performed well. The problem was that you could not refill it safely yourself and availability away from home.
Yeah, but that will change soon. When you have that kind of money you buy your own filling station. That's where hybridising comes in. Too much technology for society to convert to overnight.It's inevitable nonetheless.
So what your saying is that you would rather have companies use capes land for hydrofracking than wind mills. Pure inteligents
Lets hydrofrack our lands and contaminate our drinking water. Good move fool
There is not gas under the Cape dumb ass, so stop bitchng about fracking in the Cape.
Wind is dead and NG will rule the foreseeable futuer of engery.
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