Shell Oil Co. has chosen a site near Pittsburgh for a major, multibillion-dollar petrochemical refinery that could provide a huge economic boost to the region.
Dan Carlson, Shell's general manager of new business development, said Thursday that the company signed a land option agreement with Horsehead Corp. to evaluate a site near Monaca, about 35 miles northwest of Pittsburgh.
Rising gas prices have many voters looking for someone to blame and President Obama appears to be as good a target as anyone, a new Washington Post/ABC News poll suggests, with the president's approval rating falling from 50 percent last month to 46 percent recently.
The White House will unveil a report today showing that U.S. dependence on foreign oil imports has dropped by more than two million barrels a day since President Obama took office.
The report shows U.S. imports at 8.4 million barrels a day last year from 11 million barrels a day in 2008. As a percent of all U.S. consumption, foreign imports went from 57 percent down to 45 percent in the same period, the report says.
Economists say many industries are looking up this year. But perhaps none has a better outlook than the energy sector.
New drilling technologies and rising fuel prices have generated a boom in drilling — and lots of high-paying jobs for people with the skills to work in the oil patch. On some college campuses, companies are so eager to find petroleum engineers that they are offering jobs to students even before they have graduated.