Plastic2Oil Inc (PTOI)

[Bucks4Buckeyes]

Thanks for the link to the repeatedly posted article.

Here are some interesting quotes which were omitted from that same article DATED JANUARY 28, 2011 (over a year old).

“METRO applauds Mayor Bloomberg and DEP Commissioner Holloway for their groundbreaking initiative to replace Number 6 heating oil with cleaner heating fuels like ultra-low sulfur bioheat,” said Gene V. Pullo, President of METRO Terminals, one of New York City’s largest family-owned petroleum storage terminals. [b[color=red]]“METRO has been independently greening our heating oil products – including Number 6 oil - for years [/color]and has fiercely advocated for New York City’s recently passed biodiesel heating oil and lower sulfur Number 4 oil mandates as well as New York State’s ultra-low sulfur No. 2 heating oil mandate. Once again, with New York City leading the way, all heating oil, which has long been one of America’s most affordable heating fuels, will be another step closer to also becoming one of America’s cleanest and most sustainable heating fuels.”

To minimize costs, the regulations will be implemented in several phases. First, effective immediately, any newly-installed boilers will be required to only burn low sulfur No. 2 oil, natural gas, or the equivalent from an emissions standpoint. Second, all boilers will be required to switch from No. 6 oil to the new low sulfur No. 4 heating oil by 2015, or to an equivalent cleaner fuel. It is estimated that converting a boiler that typically burns No. 6 oil to one that can accommodate low sulfur No. 4 oil will cost roughly $10,000. Third, existing boilers that have not been replaced by 2030 must be modified to meet the equivalent emissions of burning low sulfur No. 2 oil or natural gas.

Increased exposure to fine particulate matter is known to be linked to lung and heart conditions and to contribute to asthma and a significant decrease life expectancy. The Health Department’s Community Air Survey has shown that the greatest concentrations of particulate matter and other pollutants can be found in neighborhoods where a large percentage of buildings burn Nos. 4 and 6 heating oil.

The new proposed regulations are the product of dozens of meetings with environmental, real estate, utility and oil industry stakeholders that were held to craft regulations that substantially improve public health in an achievable timeframe. Though all landlords must comply with the new proposals once enacted, property owners that can demonstrate a severe financial hardship will be able to apply to arrange a compliance schedule to fully follow the new regulations but in an extended timeframe. In these instances, DEP has the option to reach an agreement with these landlords on an extended schedule for full compliance with the new rule.

The proposals follow the enactment of Local Law 43 in 2010, authored by Environmental Protection Committee Chair James Gennaro, and supported by Mayor Bloomberg, Speaker Quinn and the entire City Council. The law helped reduce air pollution, promoted the use of alternative fuels and improved the overall air quality in New York City by requiring the use of 2 percent biodiesel in heating oil after 2012 and creating the new low sulfur No. 4 oil classification with a cap of 1,500 parts per million, reducing sulfur levels by half. This local law complemented a new State law signed in 2010 by Governor Paterson that reduced the sulfur content in No. 2 heating oil by 99 percent.

Since product from JBII has been tested by the State of NY, and they claim their sulfur content is far below those standards, I suppose that they have found another market for their product while these landlords have another 18 years to comply with the law.

Good find, even though the article is over a year old.

All The Best