The Obama Administration Teams with Private Equity Firm to Single Out a Individual Refinery for Help

The Wall Street Journal is reporting that the Obama administration played “a central role” in encouraging a private equity firm to rescue a struggling refinery in Pennsylvania. This is rather ironic since part of the reason for the refinery’s financial troubles were the Obama administration’s burdensome regulations.

Earlier this year, refineries on the East Coast were struggling. Sunoco’s northeast refining business had lost over $900 million over the past three years and was considering selling or closing its Philadelphia refinery and its Marcus Hook refinery. These refineries were suffering under the weight of years of regulation and trying to compete in the global marketplace. The outlook was bleak for these refineries and the jobs and petroleum products they supplied.

American Products, American Power

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4 responses to “The Obama Administration Teams with Private Equity Firm to Single Out a Individual Refinery for Help

  1. Government by fiat – like a typical tin-pot, third world, crony-kleptocratic dictatorship with a president-for-life. This is what the nation of Washington, Jefferson, Madison & Lincoln has come to.

  2. I wonder how much the Carlyle group (private firm mentioned in the article) contributed to the re-election. How much is it to be a crony?

  3. Create the problem, then create a single work-around dependent on you rather than remove the problem. Sounds like a system structured around problem causing.

  4. “Never let a good crisis go to waste.”

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