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Originally Posted by Launch window
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Originally Posted by SciFi Chick
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Originally Posted by Nicolas
The reason why we react in such a way is because of the messages sent out by some that "the US economy will get killed in the high gas prices"
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people are taking advantage of the Katrina disaster and now there is panic buying
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storm already forced the shutdown of an estimated 1 million barrels of refining capacity along the nation's Gulf Coast.
One third of the USA's oil production and petrol refinery could be damaged
Prices jumped by more than 50 cents a gallon overnight in Ohio |
See, it's all panic and rumor. According
to this chart, the gulf cost (excluding Texas is about 3M barrels of about 16M) so even if ALL of this refining capacity is damaged, it still is nohwere near 1/3 (a little above half that).
What are the real numbers? It will probably take a little time to get it sorted out.