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Thorold, Canada (SPX) May 10, 2011 JBI reports that Oxy Vinyl Canada, a wholly owned subsidiary of Occidental Petroleum has agreed to purchase JBI's low sulphur heating oil for $109.80 per barrel. Low sulphur heating oil is a product of our Plastic2Oil process. Under the terms of the agreement, the first order of approximately 214 barrels of low sulphur heating oil is expected to be delivered this week. "This announcement is for the sale of JBI petroleum products derived from waste plastic," said CEO John Bordynuik. "I am pleased that our green initiative has come to fruition evidenced by Oxy Vinyl's purchase." JBI's revolutionary Plastic2Oil process converts mixed waste plastic into separated diesel, heating oil, and light naphtha fuels. Low sulphur heating oil is diesel fuel without transport additives. In Q1 2011, Bordynuik designed quality controls, fuel blending, and automatic additive injection so that the fuel produced is a final product, unlike crude oil. The agreement with Oxy Vinyl marks the company's first alternative fuel sale. JBII used highly reputable laboratories and service providers to validate and test its Plastic2Oil(TM) process and products. This strategy has provided a long term benefit to our shareholders.
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Methane levels 17 times higher in water wells near hydrofracking sitesDurham, NC (SPX) May 10, 2011 A study by Duke University researchers has found high levels of leaked methane in well water collected near shale-gas drilling and hydrofracking sites. The scientists collected and analyzed water samples from 68 private groundwater wells across five counties in northeastern Pennsylvania and New York. "At least some of the homeowners who claim that their wells were contaminated by shale-gas ... read more |
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