Business Archives - Page 3 of 4 - Pittsburgh Quarterly

John Dionise knows Santa would be jealous. Rather than flying a sleigh all over the place this Christmas season, trying by sight to find each and every home where a gift is to be delivered, the drivers who work for Dionise out of a Sewickley station for FedEx Ground—the growing, Moon Township-based division of FedEx …

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Business

The Marcellus Shale Dilemma

by Seamus McGraw

A blistering July—the hottest on record—vaporized heat records in thousands of communities across the country. A historic and prolonged drought settled across a vast swath of the southern and central United States, devastating corn crops and threatening to send the cost of everything that depends on it—from baby food to burgers to the ethanol we …

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Business

The Future of the Marcellus Shale

by Seamus McGraw

After eight years of unprecedented expansion, the natural gas industry in Pennsylvania is now weighed down by its own success, analysts say. Struggling with a market that is being flooded with more natural gas than it can bear, the industry is optimistically predicting that new markets in transportation, home heating, chemical manufacturing and other industries …

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Business

An Industrial Renaissance

by Evan Pattak

When the reserves of Marcellus Shale gas in the tri-state area proved vast—84 trillion cubic feet by one estimate—it was no surprise when the region became the epicenter of a thriving new industry. What may have been unexpected was the extent to which the Marcellus boom would invigorate the economy generally. The availability of cheap, …

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Business

The Problem of Price

by Seamus McGraw

From the moment the rush began to develop the vast untapped resources of gas trapped in the Marcellus Shale, economists and industry analysts warned that the massive explosion of cash that was pouring into the state—and in many cases right back out of it—would ebb and flow. There would be times of expansion, when drillers …

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Business

Show Me the Money

by Seamus McGraw

It was hailed as a game changer. Almost immediately after the first Marcellus Shale natural gas well was spudded in a rocky hilltop in Washington County, unleashing for the first time a vast cache of domestically produced energy, the discovery was hailed as the harbinger of a revolution in energy production that would pump upwards …

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Business

Faces of the Marcellus Shale

by John Beale

In the past several years, ancient organic matter trapped more than a mile beneath the surface of the earth has changed life in Greater Pittsburgh. The vast deposits of natural gas deep in rock are known collectively as the Marcellus Shale. The Marcellus has softened the Great Recession and brought a cash infusion to previously …

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Business

The Utica Shale

by Seamus McGraw

A century and a half ago, a desperate, down-on-his-luck former railroad man named Edwin Drake wandered into a remote hollow in northwestern Pennsylvania and stuck a drill a few dozen yards down into the rocky soil. After a few false starts, Drake and his men struck a cache of crude oil that, while small by …

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Business

Labor Management

by Bette McDevitt

Against a backdrop of high national unemployment and concern about U.S. dependence on foreign energy, Richard Trumka, former president of the United Mine Workers and current president of the AFL-CIO, and Nicholas DeIuliis, president of Consol Energy, met in the second of a series of labor-management discussions sponsored by the Community College of Allegheny County. …

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Business

A Natural-Gas Ponzi Scheme?

by Seamus McGraw

It was, on the surface, a devastating indictment: a report in The New York Times, the nation’s leading newspaper, alleging that the natural gas industry—an eclectic and fiercely competitive collection of players that included in its ranks everyone from cowboy drillers to staid overseas nationals like StatOil Hydro—may have joined together in a secret cabal …

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Business

Middle East Connection

by Sean D. Hamill

For 18 years, the Columbia, Md.-based engineering and construction firm Allen & Shariff grew quickly in the mid-Atlantic area, opening its Pittsburgh office in 2000, and looking to expand internationally. It had enough success with projects in the United Arab Emirates that it opened an international office in 2008. But it couldn’t break into another …

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Business

A Toxic Topic

by Seamus McGraw

There is no doubt about it. The Marcellus Shale is radioactive, in every sense of the word. In the literal sense of the word, geologists and drillers have long known that each shale deposit has its own radioactive signature. In fact, they have often measured that radiation—from uranium, thorium, radium 226 and radium 228—and used …

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Business

Politics and the Marcellus Shale

by Seamus McGraw

It was Nov. 3, one day after the stunning midterm elections that had routed the Democrats and left the party in disarray both nationally and in Pennsylvania. The political landscape was still smoldering when Karl Rove, one of the key architects of that Republican victory, stepped to the podium in a Pittsburgh conference center and …

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Business

Our Water and the Marcellus Shale

by Seamus McGraw

The rig, a 70-foot steel spire, soared above the manmade moonscape atop the plateau that Chesapeake Energy’s contractors had hewn out of the hillside on my family farm in Wyoming County. And as my 8-year-old daughter and I trekked along the ridge above it to get a better look, I was struck with an odd …

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Business

Masters of their Fate

by Jeffery Fraser

Dawn was still hours away when Jim Rohr emerged from National City Corp. headquarters in downtown Cleveland on Oct. 24, 2008. The streets were empty, but familiar. His grandfather’s deli had stood just across the street. Not far from there was where his father had moved the deli, which later became a restaurant. Rohr worked …

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Business

A Gas-Based Economy

by Seamus McGraw

It was mid-afternoon in late winter, and the public relations man for one of the larger drilling companies in Pennsylvania was driving me back along a rutted country road from a rig we had just visited. He had been extolling the virtues of the state’s vast cache of natural gas, ticking off the ways in …

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Business

Power Play

by Reid R. Frazier

Six years ago, Keith Schaefer was reviewing a portfolio of companies for a group of investors headed by Pittsburgh financier Sam Zacharias and Andy Russell, the former Steeler. Schaefer and his group were scrutinizing a company that used power lines for telecommunication. As he met with utility executives, the conversation veered off topic. “I realized …

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Business

Workers Wanted: The Marcellus Shale

by Seamus McGraw

It’s early, the sun is just peeking up over those western Pennsylvania hills, and it’s cold and bleak as he pulls into the brightly lit service station-cum-convenience store to fill up the pressed-steel canyon that is the fuel tank of the company-owned Cummins 3500 pickup he’s driving. There’s nothing in the world that Shawn Clark …

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Business

Considering the Alternatives

by Jennifer Bails

In 1926, much of Pittsburgh was still bathed in gaslight, and in that warm, industrial glow, Jim Ferry saw a future for himself, his family, and the city. The gutsy young entrepreneur formed his own business with a $160 loan that his mother signed using her furniture as collateral. He found his first customers by …

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Business

We Have the Power

by Reid R. Frazier

Turn on a light bulb. Run the dishwasher. Boot up the computer. Run a Google search. Somewhere, a turbine spins, a coal-laden barge docks near a power plant, a nuclear reactor harvests the bound-up energy of a uranium atom. Electricity generation leads to the release of harmful emissions and a relentless pursuit to extract more …

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Business

Marcellus Shale: Doing it Right

by Seamus McGraw

Oct. 8, 2009, at the Kearns Well near Brush Run, Washington County: As industrial accidents go, this wasn’t a particularly bad one. A valve on a massive water tank had failed. Designed for the low hydrostatic pressures encountered in the flatlands out west, the valve had been no match for the pressures generated by the …

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Business

Oxymoron or Opportunity?

by Jeffery Fraser

From Pittsburgh to the hills of West Virginia, a small army of scientists is racing to tame the billions of tons of carbon vented from coal-burning power plants, working with data sets, computer models, cost analyses and other such tools that belie the drama of their high-stakes investigation. Burning coal casts off nasty pollutants, including …

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