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if the last hurricane is any indication then i expect gas to drop another buck in a week
They are projecting that the storm surge is gonna top the Port Arthur seawall by SIX FEET with 40-50' waves on top of that...that town is loaded with gasoline refineries...plus this hurricane is going right through several more in the Houston ship channel area...
if the last hurricane is any indication then i expect gas to drop another buck in a week
apples vs. oranges.
A lot of refineries are gonna be closed for weeks if not months.
And you would be incredibly wrong.
I could be incredibly kidding.
God unclench your assholes for 5 seconds
CNN via the AP just said oil dropped below $100. Hmmm...
dude its not like america is goin to export any of there reserves, prices will fall...
Most of these refineries can handle the enormous storm surges. The only caveat is whether their control system servers are high enough.
What part of "Oil has to be refined into gasoline before you can put it in your car and the refineries are getting trashed in this hurricane" do you dumb s not get?
Gasp.
The world will still revolve even if gasoline is $10/gallon.
you are a ing idiot.
Looks like it indeed did!
I have an oil widget I monitor pretty regularly. At it's worst, oil was up to about $155 a barrel. I've been watching it steadily drop over the past couple weeks, waiting for it to dip below $100 again.
Looks like it did it either earlier this afternoon. It's currently riding at $100.20 per barrel, but hopefully if trends continue, it will get back into double digits.
We'll see how Ike affects all of this, I guess.
good thing it means when you are talking about actual gasoline production.
Is that why gasoline prices plummeted at the exact same time the oil prices did?
well i just mean in relation to ike.
If I remember correctly, gas prices only came down about 15% as oil came down 30%.
That said, this situation is simple supply and demand.
Oil is going down now because the demand for oil is probably going down in the short term. The refineries that are shut down this weekend won't be able to refine jack for a while. Other refineries in the US run pretty close to 100% so they won't be able to take up the slack.
Gas is going up because the supply of gas will be constrained when the refineries shut down while the demand remains relatively constant. And of course some greedy SOBs take advantage of the situation, raising prices before their costs go up a penny.
Yeah, can't argue with most of this. Considering the price per barrel has dropped by nearly 33% in the last 2 months, we should NOT still be paying ing $3.50-$3.75 at the gas pump. But that's corporate and conglomerate economics in action.
$101.18! We're boomed!
Cowboy is wrong. Gas prices will increase, but not at the magnitude he is suggesting. OPEC is trying to keep their price per barrel down in the hope of getting a liberal elected as our next prez. This will counteract the refinery damage being done by Ike.
If there aren't refineries to turn the oil into gas, the price of crude is irrelevant. C'mon, Tlong, leave the tired political BS on the politics board.
25% of the entire US refining capacity is directly in Ike's path. In a normal hurricane the refineries shut down and have a small "storm" crew ride out the storm to monitor things. Thats not what they are doing this time. They are evacuating EVERYBODY and just locking the gates and leaving. They obviously expect it to get VERY bad...
What does it all mean? Should I buy a new ¾ Suburban this weekend or put the money in Exxon Mobil Corp & Conoco Phillips stocks?
Gas went up .20 a gallon since yesterday at the Citco close to the house.
WHAT PART OF I WAS KIDDING DO YOU NOT GET YOU ING IDIOT
Yeah, can't argue with most of this. Considering the price per barrel has dropped by nearly 33% in the last 2 months, we should NOT still be paying ing $3.50-$3.75 at the gas pump. But that's corporate and conglomerate economics in action.
$101.18! We're boomed!
Its called supply and demand.
Ask Cuba how their economic system works out.
Always gotta take the commies' side.
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