No Gas

[wfooshee]

At work here everybody was talking about beating the price hike, not beating the shortage. Anybody remember Katrina? Way bigger than Ike, went right through oil country (a good ways east of where Ike is going) and gas didn't dry up. There was gas, but the price went up. (Also an excuse without any valid economics behind it.)

I've got half a tank in the Grand Marquis, and 3/4 in the FJR. Worst case, I could have saved 90 cents by parking in line today for an hour and a half to get gas at 3.75 (which was still eleven cents more than this morning) instead of 4 something if it goes that high next week. I value my time more than that.

Every station on the way home was lined up out the yazoo, and most had signs saying they were out!

People are stupid!

******* Besides, with the LHC ramping up, who needs gas????? *******

 

[bramfrank]

As I sat in the taxi, headed home after a business trip to Mexico, I noticed that gasoline in Montreal is $1.49 a litre - now that's as high as it has EVER been. We don't get our gas from anywhere affected by weather. Oil is cheaper than it's been in months (slightly over $100, noting that it peaked momentarily at it's height at more than $150). There are no shortages, so just why is that the stations want the equivalent of US$4.25 per US gallon?

Because 97 percent of ther gulf oil platforms have shut down in anticipation of Ike.

And what's the big deal about this hurricane? It's only expected to be a cat 3!!

And so what if gas is up 10 cents a gallon? That's 2.8 cents a liter, which is smaller than the variance we see between stations in neighboring streets!!

I want to know why it is higher than it has EVER been when the underlying oil is 2/3 of what it was at the peak.

Sounds like profiteering on fear mongering to me.

 

[Capt. Bob]

Tallahasse appears to be bone dry on the Northeast side.

I just happen to have 60 gals. sleeping in the boat's tank. Don't think I'll need it but I'm getting ready for the price "spike" :glare:

 

[zzzzip]

I looked online this morning and saw gas had jumped almost $.50 along I55 in SE Missouri 200 miles away, so I figured maybe I should gas up here in NE Missouri before the price went up--- bound to sooner or later with the refineries off line.

A few minutes after the fill up, I passed a local fuel terminal and saw 6 tankers lined up OUTSIDE the facility waiting to fill up, and I thought, "This doesn't look good..."

Went on down the road to a strip with several stations and saw the price had jumped $.25. I'm not looking forward to next week's price outlook.

B)

 

[Fencer]

Lines every place here up to $4.59 Thats $1.00 overnight

 

[Scab]

My local place was still $3.59 this evening. Short lines, Premium and Mid-Grade were already out.

 

[Jagermeister]

I remember taking an economics class just a few years ago...The professor displayed charts and graphs proving that petroleum distribution channels caused a 10 to 14 day lag between a supply interrupting event, and the resulting price change.

WTF?

I believe fuel prices, like the housing market, and the US economy in general, is largely a media fabrication. CNN says the economy sucks, so it does.

 

[Scab]

I remember taking an economics class just a few years ago...The professor displayed charts and graphs proving that petroleum distribution channels caused a 10 to 14 day lag between a supply interrupting event, and the resulting price change.
WTF?

I believe fuel prices, like the housing market, and the US economy in general, is largely a media fabrication. CNN says the economy sucks, so it does.

You may have a valid point. Further discussion of this issue is warranted...over Jager shots.

See you in a few days.

 

[S76]

Lines every place here up to $4.59 Thats $1.00 overnight

The weather is just a convenient excuse for gouging. But the oil companies seem to be imune.

When Home Depot raised their price on plywood during Andrew the authorities got all over them.

 

[Grumpy]

Huge lines here in Eastern NC too.
Weather Channel probably had a lot to do with the panic. They were plastering "17 refineries in the direct path of Ike" graphics all over the tube today. Statements like "As much as 40% of the nation's total oil refining capacity could be affected", and most any other gloom&doom they could sensationalize.

Somebody please remind me WHY I got into the communications business so many years ago! It's embarrassing.

40 years ago you got the news, not someone's warp attached to it!

jim

 

[SouthernCruizer]

Dont look for any relief anytime soon...Lake Charles La took a beating, so Placid and Valero refineries will be down for some time. I spoke to my contact at Placid this morning, and they are not due to return to the refinery till Wednesday at the earliest. Add another 5-7 days to get production started again, so not so good news. The only gas to be found here in south louisiana (if you can find a station open) is premium, and the price is jumping by the hour.

Jay

'04 FJR 1300

 

[mattster31]

Hey Fubar way up here in Ontario the panic set in about 6pm. They were lined up onto the street. This morning the cost of a liter of fuel went from $1.20 to $1.36. Quick math says it went from $4.80 a US Gal to $5.44 a US gal. because SOMETHING might happen. :angry: :angry:

I saw on Canoe this morning what happened down in Southern Ontario (1.37/l).. I filled the scoot up last night luckily. This morning, it was raining hard when I left for work so I took the truck - first time in about 2 weeks. Thats when I noticed it was close to suckin fumes. Filled up at $1.27 but the line ups were STOOPID. You can bet it'll be a 1.40/l by noon.

Damn the speculators to hell.

I was at work that night in T.O. Every station was lined up to the street for hours!!! crazy man. My light started flashing on the way in but I thought I would wait until the next day. I was only looking at an extra $2.50 anyways. I just didn't stop at Tim Hortons that night <_<

 

[wev567]

Statements like "As much as 40% of the nation's total oil refining capacity could be affected", and most any other gloom&doom they could sensationalize.

Heard somewhere only 75% of US refining capacity was even online before Ike, so in theory this storm shouldn't be a problem....

 

[raclow]

The Attorney General in Arkansas issued a State of Emergency for our state because of price gouging.

Rumor was....there was a dealer in Monticello selling unleaded for $7.00/gallon.

I hope every SOB doing this is fined to the point they can't open anymore. Who needs their ass if this is how they will take advantage of the situation.

My two-cents worth.

 

[wfooshee]

I haven't been out today, but the news posted the Attorney General's office number for gouging complaints, and said that the law allows fines up to 1000 dollars per sale for price gouging. They showed prices almost back to yesterday morning at some stations, most about 20 cents higher, with a few still 60 cents higher.

 

[Low Level FJR Pilot]

Amazingly, gas here in San Diego is dropping a couple of cents a day. B)

 

[happyPuppy]

Keep in mind that the former CEO of Exxon/Mobile Lee Raymond retired in 2006 with a Golden Parachute of $351 Million and was however gracious, he agreed to reimburse the company of part of the cost of the fuel for use of the corporate jet. That is more than the GNP of Luxembourg in the same year. I have forgotten why was it OK for the FTC to allow the Oil companies to have so many mergers the past few years?

 

[cota95]

Nothing going on up here in New England. Just drove the truck home from NH and pulled off to get gas at $3.55

 

[thompsonian]

Just so you all are aware, Gov. Manchin also enacted a State of emergency to prevent price gouging as well. So hopefully that doesn't effect any of us travelling to EOM!