Environmental-economic reflections in the wake of Oil Refineries’ cooling tower collapse and the release of the McKinsey report.

Shani Ashkenazi Two weeks ago, on Friday morning, Haifa residents awoke to discover that their urban landscape - and an emblematic landmark - had changed in an instant. One of the two famous cooling towers on the Bazan Group Oil Refineries (TASE: ORL) site had collapsed. All that was left to view was a pile of concrete rubble. Many saw the collapse as a metaphor: the architectural structure that had been considered the workers’ city’s symbol, on that day also symbolized the end of those industries traditionally associated with the Haifa Bay.

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IsraelEconomist.co.il Comments:

There is a lot of talk about closing down or moving the Haifa Oil Refineries.  Bottom line, we need the output, and there is nowhere we can move it to.

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