America’s oldest nuclear power plant has shut down.
Officials at the Oyster Creek Nuclear Generating Station in New Jersey say the plant went offline at noon Monday. The plant was considered near the end of its useful life.
Oyster Creek went online Dec. 1, 1969, the same day as the Nine Mile Point Nuclear Generating Station near Oswego, New York. But Oyster Creek’s original license was granted first, technically making it the oldest of the nation’s commercial nuclear reactors still operating.
The plant in Lacey Township near the Jersey shore has dealt with corrosion and leaks during its time in service, but its owner, Chicago-based Exelon Corp., says the plant has always been safe.
There are now 98 nuclear power plants operating in the U.S. following Oyster Creek’s closure, including seven nuclear reactors operated by the Tennessee Valley Authority in Tennessee and Alabama.
Gas prices decline as fall approaches
Gasoline prices in Chattanooga fell again last week, and with the passing of Tropical Storm Florence, fuel prices should drop still further this week, according to gas surveys released Monday.
In Chattanooga, surveys of 170 local stations by GasBuddy.com showed the average price of regular gas dropped 0.8 cents per gallon to $2.47 per gallon on Sunday. Gas prices locally are down 7 cents a gallon from a year ago and average 37 cents per gallon less than the U.S. average.
“With several areas of tropical weather moving away from the U.S. comes some breathing room for energy markets, with oil prices under pressure as the risk premium subsides, setting the stage for some relief at the gas pump as we progress through the week,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
In a separate survey released today, AAA also said Hurricane Florence had little, or no, effect on prices at the pump.
“Both the Colonial and Plantation pipelines, which are the primary suppliers of fuel to the lower Atlantic region, were reportedly unaffected by the storm and are running at full capacity,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
In Tennessee, the least expensive gas price averages continued to be in Cleveland, where regular gas was priced at an average of $2.47 per gallon at the start of the week, and in Chattanooga, where AAA surveys had regular gas averaging $2.51 per gallon.
Wall Street salaries highest since 2008
Salaries on Wall Street rose last year to their highest level since the 2008 financial crisis, according to a report issued Monday by New York state Comptroller Thomas DiNapoli.
The report puts the average salary in New York City’s securities industry in 2017 at $422,500, a 13 percent increase over the year before the highest since 2008.
“Wall Street has profited every year since the end of the recession in 2009, and compensation last year reached its highest point since the financial crisis,” said DiNapoli, a Democrat. “The industry is on track for another good year absent a major setback later in the year.”
Overall, Wall Street posted $24.5 billion in pre-tax profits in 2017, rising 42 percent from 2016’s figures. Profits for the first half of 2018 stand at $13.7 billion, 11 percent higher than the same period last year.
Securities jobs have the highest average pay of any occupation in the city.
DowDuPont readies for company split
DowDuPont has named the chief executives who will lead its agriculture and specialty products businesses once they’re split off from the company.
The chemical giants Dow and DuPont merged last year in a deal valued at close to $70 billion, with plans to then split into three distinct companies.
The company said Monday that James Collins, the chief operating officer at DowDuPont’s agriculture unit, will lead Corteva Agriscience. Marc Doyle, the COO for the specialty products division, will become CEO of DuPont. Both companies will be based in Wilmington, Delaware.
Ed Breen, the CEO of DuPont, will become executive chairman at the company after the separation.
Jim Fitterling has already been picked to lead Dow, the materials science division, based in Midland, Michigan.
The three branches will become independent companies next year.