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BLOGPOLL: Gas prices and the haunting potential hurricane path of Gustav
By Amy Wood
Friday, August 29, 2008
You’d be suprised to learn just how many families wound up relocating to South Carolina after hurricane Katrina destroyed New Orleans. These are uneasy times for those families, remembering their personal nightmare.
For the rest of us, this storms path, means we’re going to face higher gas prices.
Maps we’ve looked over show over 4 thousand oil platforms in that vicinity of the gulf. The experts say prices are already climbing, as the markets anticipate a disruption in production of fuel.
The oil companies have already removed nonessential workers and the refineries were in preparation mode too, Business Week reports.
The magazine reports oil prices spiked more than $2 to above $118 a barrel.
Business Week also reports - The U.S. Gulf Coast is home to nearly half the nation’s refining capacity, while offshore the Gulf accounts for about 25 percent of domestic oil production and 15 percent of natural gas output.
Even a perceived threat to that infrastructure roils the energy markets.
Experts say gas station owners decide their prices based upon the value of what it will cost them to replace the fuel. So when prices go up per barrell they start raising them too.
Experts think by Friday we could see some significant price increases at the pump.
They also think up to 80 percent of the oil and gas production in the Gulf could be shut down if Gustav stays on course.
So are you watching Gustav’s track closley? Vote in the blogpoll and post your comments below.
COMMENTS
The oil tycoons use every excuse to raise the oil prices. I watch the stock channel daily and it angers me to see the oil going up on a “maybe” or on rumors of war, storm, shortage, etc. Oil was not this much when Katrina hit - why should the threat of this storm make it go up any higher? The rich are getting richer, the middle class are getting poorer, and the poor are turning homeless.
Linda i agree with you! take the oil out of the stock market, out of there control. we are slaves to the oil tycoons and the stock market.
Gas prices are causing so many problems in the economy. I actually met a homeless man today sitting outside of a convenience store and we struck up a conversation. He said that he lost his job because he was unable to afford the gas to get back and forth to work, pay rising bill costs, afford food, and pay child support. After losing his job, he lost his home. I don’t think the oil tycoons are thinking of this. The little man is who is hurting, not them.
HERE WE GO AGAIN JUST WHEN THE PRICES STARTED TO GO DOWN, THE PREDICTABLE IS ABOUT TO HAPPEN
AS THE NEXT HOLIDAY AND BIG STORM IS APPROACHING.
I cannot understand we have always had hurricanes and up until the last few years the gas prices never went up because of a hurricane.
I agree. Hurricanes have been around for quite a while and why is it that since Katrina, the prices go up at the whimper of a tropical storm heading toward the Gulf? The greedy have found yet another way to make victims out of the innocent. I believe they will find a hot reception when they leave this world for what they are doing. Unfortunately, that doesn’t help us now. I filled up today so I won’t give the greedy one more cent than I have to.
just greedy people who legally rob people.our system of goverment needs to change,example ect;;
when you take God out, then judgement day WILL come to america.Only choice we have in america is 2 chor: chapter 7 verse 14.. it we christains don’t repent then look at history-Joshua surely wasn’t shy.God Bless ALL America and americans.
REPENT or PERISH. The choice is in our hands.Just one more comment; Thanks-I have a question ???(YES-/No ,,if you died right now would you go to heaven.??? if you said no-read romans 10-verse 9.
have assurence by grace you are save thur faith in Jesus-The KING of kings and LORD of lords.HE IS THE ONL WAY TO HEAVEN.GLORY TO GOD> EZS
I am like all of you they come up with all these excuses no matter what the situation is,and just when you think everything is ok and back to normal BAM gas prices sky rocket again.I try not to let my gas get too low because i can barely afford it my husband and i are on a tight budget as it is.Come on people give us a break it is like the rich people get eicher,and the poor just keeps getting poorer.