Posted on 10/05/2016 4:10:33 PM PDT by bananaman22
Gasoline prices in the U.S. Southeast spiked in September after a major gasoline pipeline suffered a leak and was forced to temporarily shut down. The Southeast may see gasoline prices rise again because the problems with the pipeline are not over.
The Colonial Pipeline is a 2.5 million barrel per day system that carries refined products such as gasoline, diesel, jet fuel and heating oil. It consists of a massive 5,500 miles of pipeline, traveling from the Gulf Coast up to the mid-Atlantic. Fuels refined along the Gulf Coast can reach as far as New York Harbor.
(Excerpt) Read more at oilprice.com ...
Oh, great
That’s all they need with Matthew bearing down. At least hope the fuel trucks can make it through the traffic crunch.
A lengthy outage could send gasoline prices up in the Southeast. On the other hand, gasoline prices could see some relief in the coming days as Hurricane Matthew barrels up the Eastern Seaboard. The Hurricane is not expected to wreck any infrastructure, so supply outages are not too much of a concern. Instead, major storms tend to put a huge dent in consumption as millions of people stay home. "This is a demand destroyer. That's the bottom line," Tom Kloza, global head of energy analysis at OPIS, told CNBC.
Nothing scheduled as yet but will have to happen.
The two-week outage was the longest disruption in more than two decades for the pipeline.
However, the problems with the Colonial Pipeline may not be over yet. Argus Media reports
that more leaks will need to
be fixed and the pipeline could shut down again before the year is out. In fact, 2016 is
now the worst year in more than a decade for leaks in the pipeline system, with at least
six shutdowns recorded in federal data. Another shutdown is looming. Argus Media says that
Colonial will have to fix
compromised segments of the pipeline in Georgia and Atlanta, which could once again
send gasoline prices up.
It’s just a matter of time before one of our ISIS immigrants slaps a platter charge on that pipeline.
I’m looong on a gasoline price spike.
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