[Liberty1970]

Well, it looks like Rburke may not be so misinformed after all. It’s confined to the SE region affected by Ike, but it does look like in the short term gas supplies are going to be disrupted. My bad. ;-)

[AxelPaulsenJr]

“You may see companies that traditionally pass on these increases only pass on a portion,” said Kloza. “It is very complicated but I don’t think you can use the normal metric,” in this situation.

Shouldn't be a situation that lasts too long. Speaker Pelosi, do you see all this? Are you still against drilling for domestic, and allowing construction of new refineries?

[politicalwit]

From Bloomberg...

Gasoline Surges

Wholesale gasoline for sale at Gulf Coast terminals rose 44 percent, the biggest daily increase since 1973, as Exxon Mobil Corp., the largest publicly traded oil company, and other refiners shut plants ahead of the hurricane.

Exxon Mobil began closing its Baytown, Texas, plant, the largest U.S. refinery in the U.S. with capacity of 590,500 barrels a day.

Valero Energy Corp., the largest U.S. refiner, said today it's shutting down Houston and Texas City refineries before Ike comes ashore. BP Plc, and Marathon Oil Corp. also said their Texas City refineries are closing.

LyondellBasell Industries, a unit of Access Industries Holdings LLC, began shutting its Houston refinery yesterday.

The Louisiana Offshore Oil Port, which is the biggest U.S. oil-import terminal and handles 13 percent of imports, shut marine operations yesterday because of Ike.