On December 5, over 200 national and international business leaders attended an energy summit hosted by the Greater Philadelphia Energy Action Team (GPEAT) of the CEO Council for Growth and the Greater Philadelphia Chamber of Commerce. The summit brought together energy and manufacturing executives interested in attracting energy-intensive businesses to the Greater Philadelphia region. Both business and labor groups have lined up in support of the campaign to make Greater Philadelphia the strategic energy hub in the Northeast United States.
Daniel Yergin, Pulitzer Prize-winning author of The Prize, a history of the energy business, spoke to summit attendees about establishing the region as an energy hub. Mr. Yergin said that Greater Philadelphia has the assets needed to become an energy hub, including first-rate infrastructure, world-class colleges and universities with significant R&D capabilities, and an engaged and committed business community.
Greater Philadelphia has a long history as an energy center. The Delaware River is now home to five refineries that receive crude oil by train, and ship and distribute the fuels they produce to regional and international markets.
GPEAT Chairman and CEO of Philadelphia Energy Solutions Phil Rinaldi said “Greater Philadelphia is in a prime position to be the center of this major transformation in the energy industry by taking advantage of outstanding infrastructure and the tremendous regional talent pool of science, engineering, and business professionals augmented by craftsmen well trained in manufacturing trade skills that are deeply ingrained in the region’s history.” He added that the “development of Marcellus Shale offers not only significant opportunities to reduce consumer energy costs, but perhaps more importantly to promote sustainable economic growth and create new, family-sustaining jobs throughout the Commonwealth that would raise the region’s economic might.”
In addition, Sunoco Logistics Partners L.P., a Philadelphia pipeline company, is investing billions of dollars to build its Mariner East pipelines to deliver Marcellus natural-gas liquids to former refinery sites in Marcus Hook and Westville.
To view videos about Greater Philadelphia’s energy initiative, visit www.ceocouncilforgrowth.com/energy. For information about business opportunities in Greater Philadelphia, contact Mari Juarez at [email protected] or (215) 790-3653.