Thursday, September 29, 2005

Every time I LOOK at a gas station the price has increased

I know, the two hurricanes did a number on the energy industry.
I was going to post on prices going up more now- a week after Rita than they did right after Kate, wich was a worse storm.

I searched for Gasoline price increase refineries, and didn't get anything up to date. I then tried gasoline price increase refinery damage and finally got this anyway.

The hurricane damage to the oil production and refinery infrastructure in the southern states bordering the Gulf of Mexico – a region responsible for a third of all the petroleum imported and processed in the U.S. – is causing a sharp spike in both gasoline and diesel fuel prices across the country.

However, there remains deep division as to whether these price hikes are a short- or long-term phenomenon.

Nobody knows how long this spike will last. The price of crude is falling, BTW- the excuse now is "the refinery damage". THAT'S why Valaro is having record profits and is offering a stock split.

“Another challenge we face is that the downed pipelines are causing the need to transport gasoline to needed markets by ship [but] under current law, shipping between American ports can only take place on American ships -- and there are currently not enough American ships to move the oil and gasoline to where it’s needed,” the President said. That requirement is being temporarily waived so foreign ships can also help distribute oil and gasoline to where it’s needed, he noted.

While the President characterized the price spikes as temporary, others fear the impact will be felt much longer.

“The devastation of Hurricane Katrina makes us painfully aware of our nation’s vulnerability to oil and gasoline supply disruptions and of the pressing need to become as energy efficient as possible to curb demand and reduce high energy prices,” said Brian Castelli, executive vp & COO of the Alliance to Save Energy, a coalition of business, government, and environmental organizations. “Deploying energy efficiency is the quickest, cheapest, cleanest way to extend our nation's energy supplies and bring down prices.”

No, Mr. Caselli- the fastest way to extend our energy supplies is to DRILL where YOU ban it, and build the refineries and pipelines that you fight against. Then we can look at Nukes, and your renuable energy.

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