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Hurricane Isaac Is Disrupting Gulf Refiners, But The Real Risk To Gas Prices Is A Fire In Venezuela
Despite Hurricane Isaac bearing down on the Gulf, crude oil prices have remained mostly flat for the past week. Energy markets guru Stephen Schork believes that's because the storm is not expected to cause the same level of damage as Hurricane Katrina. But Isaac is not the only phenomenon American energy markets are contending with. A fire at the Amuay refinery in Venezuela — part of the second-largest energy complex in the world — continues to rage, and Schork tells us no one's sure when it will be extinguished. Business Insider
Submitted 2 years 117 days ago

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More than 10,000 power outages reported across region as Hurricane Isaac nears
More than 10,000 homes and businesses in southeastern Louisiana have been left without power, with electricity customers in St. Bernard, Lafourche and Plaquemines parishes the hardest hit so far, as the rest of the region waits for the slow-moving Hurricane Isaac to come ashore overnight. In Plaquemines Parish, which is served by Entergy Louisiana, the number of outages had reached 4,525 homes and businesses, up from 3,582 about an hour before, Entergy Corp., the New Orleans utility giant, said on its Entergy Storm Center website, which provides updates on power outages in New Orleans and across the region. Nola.com
Submitted 2 years 118 days ago

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Obama raising fuel standard to average 54.5 mpg by 2025
Fuel efficiency of U.S. cars and light trucks will nearly double by 2025 under a standard finalized by the Obama administration Tuesday. New American vehicles will need to get an average 54.5 miles per gallon under the updated Corporate Average Fuel Economy, or CAFE, standards that aim to save consumers money at the fuel pump and cut dependency on foreign oil imports. The rule, strongly opposed by Republicans and some automakers, builds on the standard for vehicles for model years 2011-2016, which requires automakers to raise average fuel efficiency to 35.5 mpg. For decades, the standard was about 21 mpg for cars and light trucks combined. Nbcnews.com
Submitted 2 years 118 days ago

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Is the U.S. Headed for a Double-Dip Recession?
In addition to a host of warnings, last Wednesday’s Congressional Budget Office report did contain a little bit of good news. The economy will grow slightly faster in the second half of 2012 than in the first half, and inflation will stay extremely low, according to projections in the CBO’s Update to the Budget and Economic Outlook. The bad news is that unemployment will probably remain above 8%. The worse news is that next year the U.S. faces continued high unemployment, below-average growth and the risk of a double-dip recession. TIME.com
Submitted 2 years 118 days ago

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Isaac halts most Gulf oil production
Nearly all oil operations in the Gulf of Mexico have halted as Hurricane Isaac storms across the region on its way to the Louisiana coast. More than 93 percent of Gulf oil production capacity has been shut in, the U.S. Bureau of Safety and Environmental Enforcement said Tuesday. Offshore platform operators have evacuated more than 84 percent of their facilities in the Gulf so far, according to the bureau. Oil production from the Gulf has been cut by 1.3 million barrels a day, while gas production has fallen 67 percent, the bureau said. Refiners, chemical companies, fabricators and other energy-related businesses continued to shut down and evacuate facilities along the Gulf Coast because of Isaac. Fuelfix.com
Submitted 2 years 118 days ago

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Five things the energy sector needs to hear at the RNC
At the Republican National Convention in Tampa, the economy and energy are front-and-center issues. And to many of the thousands of party faithful attending the four-day event, they are increasingly tied together. American Petroleum Institute President Jack Gerard said that marks a change from earlier this year, when voters didn’t have energy on their mind. Now, he says, “the public understands that energy development will assist economic recovery in the form of new high-paying jobs.” Fuelfix.com
Submitted 2 years 118 days ago

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ST Aerospace Academy nabs $1.8M
MOBILE, Alabama - Singapore Technologies Aerospace, the parent company of ST Aerospace Mobile, announced Monday it will soon inject an additional $1.8 million into the ST Aerospace Academy. The academy anticipates training some 200 commercial pilot cadets by the end of 2012, and said the capital infusion is intended to increase STAA's flight training capacity and capabilities as the demand from both airline and private customers continues to increase. Al.com
Submitted 2 years 118 days ago

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I-95 Virginia toll bid details proposed $12B improvement projects
Rebuilding the interchange of Interstate 95, Interstate 85 and U.S. 460 in Petersburg would be one of the state's top priorities if Virginia gets federal approval to put tolls on I-95. Charlotte Observer
Submitted 2 years 118 days ago

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Chemical trade group predicts 15,000 jobs in NC from natural gas
A state government study projects several hundred jobs would be created from fracking in North Carolina. But a recent report put out by the American Chemistry Council puts the potential number of jobs generated from natural gas exploration much higher: 15,000. The Washington trade group said this month that thousands of jobs could be created by building a single production plant to process gas into petrochemical byproducts that are used to make plastics and fabrics. However, North Carolina does not have a single production complex such as the one touted by the American Chemistry Council – nor has one been proposed. News Observer
Submitted 2 years 118 days ago

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Sanderson Farms pick Nash Co., NC for chicken processing plant, 1,100 possible jobs
Sanderson Farms announced this morning it has selected Nash County as the site for a future poultry processing plant near Wilson. The proposed plant would add 1,100 jobs to an area less than an hour from Raleigh that has one of the state’s worst unemployment rates. The company said the project is contingent on obtaining necessary permits and getting acceptable economic incentives. News Observer
Submitted 2 years 118 days ago

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

The America South is home to almost as many residents as the Northeast and the Midwest combined, but even that statistical record is about to be broken. According to a new Census Bureau study that came out in April, 51 percent of the nation's population jump occurred in the South from 2010 to 2013.
 

 Randle Report - Business News in the South

 FEATURE  
By Stacy Randle
Demographer Wendell Cox recently analyzed the largest gains in holders of bachelor's and post-graduate degrees between 2007 and 2012 in the 51 metro regions in the U.S. of 1 million residents or more. The results were published in Forbes magazine and the South dominated the ranking.
 

 Business News in the South - Randle Report

FEATURE     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 Nashville Mayour Karl Dean

We try to change up the categories in our annual Ten Top 10s section, but we always include the "Ten People Who Made a Difference" category. This year though, we are honoring 12 and you will learn why by reading about this group of folks who have made a difference in the South. Here is our annual list that includes executives, economic developers and politicians who have made a difference in the South's economy.


 


 

 

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