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Topic: Gas Prices in your area
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David Buckley
Jedi Master Film Handler
Posts: 525
From: Oxford, N. Canterbury, New Zealand
Registered: Aug 2004
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posted 09-01-2005 04:54 PM
Short exerpt from CNN website
WASHINGTON (Reuters) - President Bush warned Thursday against price-gouging of gasoline in the aftermath of Hurricane Katrina and said looters should be treated with zero tolerance.
"I think there ought to be zero tolerance of people breaking the law during an emergency such as this, whether it be looting, or price-gouging at the gasoline pump or taking advantage of charitable giving, or insurance fraud," Bush said in an interview on ABC's "Good Morning America."
Gasoline sellers have been fast to raise prices in the wake of the storm. Prices have risen above $3 a gallon and in some places are higher because of a sudden drop in oil supplies.
Bush said Americans should conserve more gasoline in response to the crisis and said he expected Saudi Arabia to do "everything they can" to provide more oil. He said eight refineries are down in the Gulf and "it's going to take a while" to get them going again.
"I would hope Americans conserve if given a choice," he said.
Theres the message.
As has already been noted, providing SPR oil isn't going to be much help (ie its 9 parts PR), and Saudi oil, even if they can produce it (which they've already been promising for months but its yet to appear) is sour grade and thus also not terribly useful for getting gas into American cars, due to existing lack of refining capacity for sour crude.
Katrina has done quite some damage to Gulf of Mexico ops, theres a few platforms "missing", most refining is offline, and theres still a load of unknowns such as how much undersea infrastructure is trashed. And there are expected to be impacts on natural gas (and thus electricity), which haven't started to filter through yet.
Bad times with probably more bad times ahead.
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