Premium Essay

Haverford

In:

Submitted By gnova01
Words 972
Pages 4
Oil Refineries in 2013
The O&G sector has seen an increase in volatility over the past five years. Prices were the most extreme from 2008 to 2009 due to the global financial crisis and the recession that followed thereafter. The price of Brent crude dropped from a high of around $150 to a low of $40 during that time period, and the price of natural gas dropped from a high of $13 to under $3. However, by 2010, the price of oil has stabilized and strengthened, and recovery was well underway.

The outlook for the O&G downstream sector has been mostly negative since the recession. The rise in crude prices along with the decline in demand to a 15 year low led to weaker margins for oil refineries. Refineries simply could not pass on the higher cost to consumers resulting in the shutdown of a large number of refineries that are losing millions each week. As such, the refining industry is undergoing a regional change with much of the business being diverted to the Midwest. The Sunoco plant in Marcus Hook, PA and the ConocoPhillips plant in Trainer, PA were both shut down due to cost-cutting measures. Together, they account for 20% of the gasoline that is produced in the Northeast.

The refinery plants in the Northeast are only able to refine Brent crude which is easier to refine, but the crude is becoming more expensive. The refineries in the Midwest are able to refine the crude that comes down from Canada. This is a heavier type of crude, but is cheaper than Brent. In addition, the Midwest refineries also have access to WTI crude, which is similar to Brent but produced in the US. Refineries in the Northeast do not have access to WTI, leaving them at a huge disadvantage as WTI trades at $106 while the Brent trades at over $120 at the time. That difference is a big reason why the refineries in the Northeast are suffering.

The oil refining

Similar Documents

Free Essay

Blacklavak

...The Islamic State of Iraq and the Levant (ISIS) used to have a different name: al Qaeda in Iraq. US troops and allied Sunni militias defeated al Qaeda in Iraq during the post-2006 "surge" — but it didn't destroy them. The US commander in Iraq, General Ray Odierno, described the group in 2010 as down but "fundamentally the same." In 2011, the group rebooted. ISIS successfully freed a number of prisoners held by the Iraqi government and, slowly but surely, began rebuilding their strength. ISIS and al-Qaeda divorced in February 2014. "Over the years, there have been many signs that the relationship between al Qaeda Central (AQC) and the group's strongest, most unruly franchise was strained," Barack Mendelsohn, a political scientist at Haverford College, writes. Their relationship "had always been more a matter of mutual interests than of shared ideology." According to Mendelsohn, Syria pushed that relationship to the breaking point. ISIS claimed that it controlled Jabhat al-Nusra, the official al-Qaeda splinter in Syria, and defied orders from al-Qaeda's leader, Ayman al-Zawahiri, to back off. "This was the first time a leader of an al-Qaeda franchise had publicly disobeyed" a movement leader, he says. ISIS also defied repeated orders to kill fewer civilians in Syria, and the tensions led to al-Qaeda disavowing any connection with ISIS in a February communiqué. Today, ISIS and al-Qaeda compete for influence over Islamist extremist groups around the world. Some experts believe...

Words: 3136 - Pages: 13

Free Essay

Conflict of an Insurance Broker

...Specifically, the potential conflict of interest here is the biased judgment. In general, not only are professionals are paid for using specialized knowledge to make judgments for the benefit of others but also part of the value of their services lies in the confidence that can be placed in a professional’s judgment. Hence, The insurance broker, A&A, does not merely meet the museum’s requirement to save money, but also have the responsibility to conduct in accordance with the code of ethic and propose the most suitable prices to maintain the museum’s needs. What’s wrong with such a conflict? There are two possibilities, First, If the museum is served by continuing with Haverford, which is financially sound and provide the reliable coverage at reasonable prices, A&A will be given a 17 percent commission by Haverford and the museum will get the reliable coverage, as well. By the look of it, it is a win-win situation....

Words: 811 - Pages: 4

Premium Essay

Tkm Characters

...Petrina Chan Hr. 2 To Kill a Mockingbird Summer Work Characters Scout Jean Louise Finch, also called Scout, is the narrator and protagonist of the story. She is the sister of Jeremy (Jem) Finch and the daughter of Atticus Finch. She lives with her brother, father, and their black cook, Calpurnia, in Maycomb County. Being the main character, she is involved with all of the major events that happen during the course of the novel, including the Tom Robinson trial. While the story progresses, Scout’s views about life mature. Scout is different than most little girls at the time. She wears overalls instead of dresses and learns to climb trees with Jem and Dill rather than learning manners.She starts to understand how to look at things from someone else’s point of view, instead of only her own, and, “step into their skin,” as Atticus tells her, in order to understand people’s feelings. She progresses from a short-tempered tom boy to an empathetic young girl. Although she is still young, her understanding of the world is progressing rapidly. Jem Jeremy (Jem) Finch is the brother of Jean Louise (Scout) Finch, and the son of Atticus finch. He is four years older than Scout. He is Scout’s playmate and protector throughout the novel. Although he slowly weans himself from Scout’s little games, he remains her closest companion and guardian. He and his views on life are deeply affected by the Tom Robinson trial because of the amount of sheer prejudice and cruelty of the trial. Jem learns...

Words: 2535 - Pages: 11

Premium Essay

Charles Conrad Dyslexia

...Charles (Pete) Conrad According to the Daily Telegraph, while Charles (Pete) Conrad attended Haverford Academy he was expelled because he failed 11th grade exams while struggling with dyslexia. At the time, dyslexia wasn't a common and a well-known disability. Furthermore, some of his teachers thought he wasn't making an effort to get good grades. His mother then placed him at a school that supported his needs and he succeeded from there. In addition, he later attended Princeton. I found this interesting because the teachers and his peers probably thought at that time he wouldn't be successful in life but he proved them wrong. Pete Conrad worked hard and earned a lot of different achievements and honors. Although I can't relate to having...

Words: 300 - Pages: 2

Premium Essay

To Kill a Mocking Bird

...Boston. Their sister, Alexandra Finch, stayed to run the Landing. A successful lawyer, Atticus makes a solid living in Maycomb, a tired, poor, old town in the grips of the Great Depression. He lives with Jem and Scout on Maycomb’s main residential street. Their cook, an old black woman named Calpurnia, helps to raise the children and keep the house. Atticus’s wife died when Scout was two, so she does not remember her mother well. But Jem, four years older than Scout, has memories of their mother that sometimes make him unhappy. In the summer of 1933, when Jem is nearly ten and Scout almost six, a peculiar boy named Charles Baker Harris moves in next door. The boy, who calls himself Dill, stays for the summer with his aunt, Miss Rachel Haverford, who owns the house next to the Finches’. Dill doesn’t like to discuss his father’s absence from his life, but he is otherwise a talkative and extremely intelligent boy who quickly becomes the Finch children’s chief playmate. All summer, the three act out various stories that they have read. When they grow bored of this activity, Dill suggests that they...

Words: 508 - Pages: 3

Premium Essay

Divorce Decree

...Divorce Decree Kaplan University January 27, 2015 Professor Nnena Odim PA250: Family Law COMMONWEALTH OF MASSACHUSETTS THE TRIAL COURT THE PROBATE AND FAMILY COURT DEPARTMENT SUFFOLK DIVISION DOCKET NO: 57865 ) Patty Bean, ) Plaintiff ) ) v. ) ) David Bean, ) Defendant ) ) JUDGMENT DECREE FOR DIVORCE 1. Patty Bean (“Wife”) and David Bean (“Husband”) were married in Boston, MA on April 5, 2004. 2. Patty Bean resides at 123 West Golf Road, Boston, Suffolk County, MA. 3. Husband resides at 456 Eat Lark Street, Boston, Suffolk County, MA. 4. There are two children of this marriage: David Bean Jr. (DOB 6/5/06) and Patricia Bean (DOB 7/1/09). 5. The marriage of the parties has broken down irretrievably, and there is no prospect of reconciliation After HEARING, it is hereby ordered and adjudged that: 6. Husband and Wife will share legal custody of the children: primary residence and physical custody shall be with the Husband. 7. Both parties are to split weekends, holidays and vacation to allow the minor children equal time with both parents. 8. Both parties will assume shared responsibility with transportation for visitation and independently provide for the material needs of the children at each separate location. 9. The Husband and Wife may upon mutual agreement modify the periods of access when it is in any or all of the children’s best interests. 10...

Words: 552 - Pages: 3

Premium Essay

Free Expression on College Campuses

...College campuses should not be a place where young adults are targeted by special interest groups, taught one-side of an issue, or dominated by expression that can intimidate the free flow of ideas. College campuses are filled with diversity. Rather, students from all over the world, whether citizens or guests, should feel welcome to share cultural, political, and traditional values openly. Unfortunately, some people take our freedoms to extremes on both sides of the issue and without limitations to free speech it could be abused. The essence of why free speech should be limited or censored on college campuses is best captured in Lawrence’s own writing On Racist Speech. “Assaultive rasict speech functions as a preemptive strike. The invective is experienced as a blow, not as a proffered idea, and once the blow is struck, it is unlikely that a dialogue will follow. Racial insults are particularly undeserving of First Amendment protection because the perpetrator’s intention is not to discover truth or initiate dialogue but to injure the victim.”(page56 paragraph 6.) The law of the land states, “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances,” (United States Constitution. First Amendment.) Prior to ratifying the U.S. Constitution...

Words: 683 - Pages: 3

Free Essay

Getting to Know Parks and Rec

...reruns, DVDs, Hulu, or Netflix. This television show can be seen as uplifting for many reasons. In the show, Leslie loves her town very much and tries her absolute hardest to make it a better place for the residents. Unfortunately, the residents of Pawnee do not care much for what she is trying to do and make it harder for her to do her job. Even when they do this, she still does not give up and she gets the job done. The message here is that if someone or something is trying to push you back as much as possible, do not give up. Push forward, and later you will get to look back at a job well done. Another uplifting concept is when Leslie helps all her friends get careers in something that they are passionate about. One of her friends Tom Haverford played by actor Aziz Ansari was not happy with his job, so she helped him find what he...

Words: 928 - Pages: 4

Premium Essay

Perelman School Of Medicine Essay

...partnerships in several countries that offer internships and community internships within the needy areas of Philadelphia. In addition to the studies in internships, fifth year fellowships are also available. The School allows this year to be a sabbatical for research and other scholarly pursuit programs. Module five also requires research in which students are able to focus on their own projects. Research is not just limited to medical school students however. The School of Medicine offers opportunities to undergraduate students in summer programs. These summer programs offer mentored opportunities in translational and clinical research. However, the students offered these opportunities are from Bryn Mawr College, Franklin & Marshall College, Haverford College, Lincoln University, Swarthmore College, and the University of Pennsylvania. Perelman School of Medicine also offers an MD/PhD program as well as a plethora of other MD combined degrees. The MD/PhD track is run through the Medical Scientist Training Program. The program at Perelman has the largest Medical Scientist Training program grants in the country and is the largest program in the country with over 180 students. http://www.med.upenn.edu/mstp/facts.shtml The Longitudinal Experience to Appreciate the Patient’s Perspective, or LEAPP, is a program that pairs students with chronically ill patients for 18 months. This program is specific to first year students and offers an early experience in clinical environment and understanding...

Words: 1396 - Pages: 6

Free Essay

Stakeholder

...MISSION To connect people with trusted breast cancer information and a community of support. VISION A world where no one impacted by breast cancer feels uninformed or alone. HISTORY & COMMUNITY SERVED LBBC was founded in 1991 by radiation oncologist Marisa C. Weiss, MD, in response to a woman's need for breast-cancer-related information, connection and support after completing treatment. In our early years, Dr. Weiss ran LBBC out of the third floor of her home using volunteers. Few resources existed for women affected by breast cancer, and LBBC focused exclusively on the post-treatment experience. In 1996, Jean A. Sachs, MSS, MLSP, became Living Beyond Breast Cancer’s first executive director (now chief executive officer). Ms. Sachs has increased LBBC’s budget from $100,000 to more than $4 million per year, increased the size of the staff and expanded our programs and services. Today, LBBC has expanded to assist women at all stages of diagnosis, treatment and recovery. Our mission includes offering specialized programs and services for the newly diagnosed, young women, women with advanced breast cancer, women at high risk for developing thedisease, and African-American women. We also offer programs for caregivers and healthcare professionals to help them better meet the needs of women affected by breast cancer. BOARD OF DIRECTORS Barbara Yorke – Chair Retired Executive Denise Portner – Vice Chair Senior Vice President, SteegeThomson Communications ...

Words: 915 - Pages: 4

Premium Essay

Nyt Article

...Reprints This copy is for your personal, noncommercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers here or use the "Reprints" tool that appears next to any article. Visit www.nytreprints.com for samples and additional information. Order a reprint of this article now. August 7, 2011 Stocks Suffer Sharpest Drop Since 2008 By GRAHAM BOWLEY The stock market resumed its free fall Monday on mounting fears about the stalling economy and worries that the government had few options to increase growth, dual concerns that overshadowed the downgrade of long-term United States government debt. The Dow Jones industrial average fell 634 points, or 5.6 percent, and the Standard & Poor’s 500- stock index dropped 6.7 percent, the biggest retreats since December 2008 in the midst of the financial crisis, accelerating a sell-off that began a couple of weeks ago. The S.& P. 500 is now down 18 percent from its April 29 peak and is nearing official bear market territory, defined as a fall of 20 percent. The selloff continued Tuesday morning in Asia. The Nikkei 225 in Tokyo was down 4.1 percent at midmorning, while the Kospi in Seoul lost 5.7 percent. Shares in Australia sank 4.8 percent, and early indicators suggested that other markets would follow suit. S.& P. futures fell 2 percent, signaling a lower open for markets in New York. So anxious are many investors that they poured money into Treasury securities, the debt the government...

Words: 1345 - Pages: 6

Premium Essay

Perelman School Of Medicine Case Study

...internships and community internships within the needy areas of Philadelphia. In addition to the studies in internships, fifth year fellowships are also available. The School allows this year to be a sabbatical for research and other scholarly pursuit programs (“Special Study & Research”). Module 5 also requires research in which students are able to focus on their own projects (Modules 5 & 6). Research is not just limited to medical school students however. The School of Medicine offers opportunities to undergraduate students in summer programs. These summer programs offer mentored opportunities in translational and clinical research. However, the students offered these opportunities are from Bryn Mawr College, Franklin & Marshall College, Haverford College, Lincoln University, Swarthmore College, and the University of Pennsylvania (“Undergraduate Training Program”). Perelman School of Medicine also offers an MD/PhD program as well as a plethora of other MD combined degrees. The MD/PhD track is run through the Medical Scientist Training Program. The program at Perelman has the largest Medical Scientist Training program grants in the country and is the largest program in the country with over 180 students (“Medical Scientist Training Program”). In addition to the great programs at Perelman, the Longitudinal Experience to Appreciate the Patient’s Perspective, or LEAPP, is a program that pairs students with chronically ill patients for 18 months. This program is specific to first year...

Words: 1550 - Pages: 7

Premium Essay

Ethical Dilemma

...Ethical awareness is fundamental to the professional practice of social workers. Their ability and commitment to act ethically is an essential aspect of the quality of the service offered to those who engage with social workers. Respect for human rights and a commitment to promoting social justice are at the core of social work practice throughout the world. Professional ethics concerns matters of right and wrong conduct, good and bad qualities of character and the professional responsibilities attached to relationships in a work context. Ethical issues arise in many facets of our working lives. Ethical dilemma occurs in areas of work with conflicting interests and competing rights, have a role to support, protect and empower people, as well as having statutory duties and other obligations that may be coercive and restrict people’s freedoms, people are constrained by the availability of resources and institutional policies in society and be between one personal to another who may be personal friends. On daily basis, social workers face ethical issues at their places. In fact this vexed issue form core of social work. No social worker can practice effectively and efficiently without upholding these ethical matters in the highest esteem.      There are three conditions that must be present for a situation to be considered an ethical dilemma. The first condition occurs in situations when an individual, called the “agent,” must make a decision about which course of action...

Words: 1814 - Pages: 8

Premium Essay

Financial Management

...Fin 221 Fall 2006 Exam 4 Multiple Choice Identify the choice that best completes the statement or answers the question. 1) Several years ago the Haverford Company sold a $1,000 par value bond that now has 25 years to maturity and an 8.00% annual coupon that is paid quarterly. The bond currently sells for $900.90, and the company's tax rate is 40%. What is the component cost of debt for use in the WACC calculation? A. 5.40% B. 5.73% C. 5.98% D. 6.09% E. 6.24% 2) Assume that Mary Brown Inc. hired you as a consultant to help it estimate the cost of capital. You have been provided with the following data: D0  $1.20; P0  $40.00; and g  7% (constant). Based on the DCF approach, what is Brown's cost of equity from retained earnings? A. 10.06% B. 10.21% C. 10.37% D. 10.54% E. 10.68% 3) Crum International's target capital structure calls for 80% debt and 20% equity. The company expects to have $3 million of net income this year, and 60% of the net income will be paid out in dividends. How large can the firm's capital budget be this year before it will have to issue new common stock? A. $5.5 million B. $6.0 million C. $6.3 million D. $6.8 million E. $7.1 million 4) Assume that you are on the financial staff of Christopher Inc., and you have collected the following data: (1) The yield on the company's outstanding bonds is 7.0%, and its tax rate is 40%. (2) The expected year-end dividend is $0.80 a share, the dividend is expected to grow at a constant...

Words: 2887 - Pages: 12

Premium Essay

To Kill a Mockingbird Film Comparison

...| |[Year 12 | | |Toolooa State High School | | | | | |Tom Lavender, English Essay | | |“Despite the efforts of governments, groups and individuals, humankind still finds it difficult to trust based on the soul of a person; | |we are more comfortable making judgements based on skin colour.” | Prejudice, courage and unity… TEXT COMPARISON Are we always champions of tolerance, courage and receptiveness to others? By the very definition of humanity, we must be. Humanity: benevolence, understanding and kindness towards other people. It is, arguably, our very human nature to feel compassion, courage, understanding, unity and empathy towards our fellow man. Unfortunately, prejudice and judgement also cling to the human condition like tumorous stains – traits which society still finds hard to surmount. Despite the efforts of governments, groups and individuals, humankind still finds it difficult to trust based on the soul of a person; we are more comfortable making judgements based on skin colour. Nelle Harper Lee through her 1960 novel, ‘To Kill a Mockingbird,’ and Boaz Yakin through his 2000 film, ‘Remember the Titans...

Words: 3544 - Pages: 15