Representatives from the National Energy & Fuels Institute (NEFI) and consulting firm Kearney revealed a plan for the heating oil industry to eliminate fossil energy use by 2050 during a recent national summit.
The announcement builds upon a pledge made last year when more than 300 heating oil industry professionals committed to achieve 15% carbon reductions by 2023, 40% reductions by 2030 and net-zero by 2050. To reach these goals, the industry plans to deliver a blend of 20% biofuel by 2023, 50% by 2030, and 100% renewable fuel by 2050, thereby eliminating fossil energy from its primary product.
This will in effect transform the very nature of heating oil, making it a renewable fuel, representatives said.
“Months of research conducted by Kearney demonstrates that heating oil-biofuel blending provides the most cost-effective and immediate path for NEFI members and their customers to reduce fossil energy use and carbon emissions,” said Neal Walters, a partner at Kearney. “Our findings show that this strategy is both affordable and easier to implement than electrification for home heating in the Northeast.”
Added Sean Cota, NEFI president and CEO: “Last year, industry leaders announced a goal that many thought unachievable. Today, we are excited to announce that not only is our goal achievable, but it is also well within reach. Renewable liquid heating fuel can reduce fossil energy use and carbon emissions faster and more cost-effectively than electric heat pumps or natural gas.
“Who would have thought your town’s little family heating oil business would play such a big role in helping to solve the planet’s climate crisis.”
In the weeks and months ahead, NEFI says it will continue engaging business leaders, policymakers and climate activists regarding the industry’s revolutionary plan to eliminate fossil fuel and carbon emissions from the home energy sector.
CLH recently agreed to acquire the liquid product storage facilities of Inter Terminals subsidiary Inter Pipeline in the United Kingdom, Ireland, Germany and the Netherlands.
The transaction is expected to complete in the fourth quarter of 2020, subject to customary closing conditions and regulatory approvals, CLH said.
Through this transaction, CLH will add 15 liquid product storage terminals, making it a European leader with operations in eight countries.
“This agreement represents a unique opportunity to continue the company’s international expansion and consolidate its presence in the European market,” said José Luis López de Silanes, chairman of CLH.
The 11 UK terminals included in the agreement have a capacity of more than 2 million cubic meters and can store a wide range of liquid products related to a number of supply chains, including diverse chemical products, as well as traditional fuels and biofuels. Integrating these terminal facilities in the United Kingdom offers an excellent complement to CLH‐PS, the CLH Group subsidiary already operating in the country.
CLH
In addition, the agreement also includes one terminal in Ireland, where CLH already operates at the Dublin airport through its subsidiary CLH Aviation Ireland, plus two more in Germany and one in the Netherlands.
“This transaction will expand CLH’s knowledge on chemical products and biofuel storage by gaining the experience of a European leader in these business segments,” said Jorge Lanza, CLH’s chief executive officer. “It is also in line with CLH’s strategy of diversification beyond hydrocarbons in response to the challenges of climate change.”
The businesses in the agreement currently have a workforce of 530 highly experienced and technically qualified employees, CLH said, and the company is committed to ensuring facilities continue to be operated under the highest levels of safety and quality conditions.
“CLH is acquiring a high‐quality business with an outstanding team who have made an important contribution to the success and growth of Inter Pipeline over the past 15 years,” said Christian Bayle, president and CEO of Inter Pipeline.
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October 05, 2020 at 09:11PM
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