[Mount Athos]

That might hit oil prices a bit

[SheLion]

That might hit oil prices a bit

A bit??!! Home fuel oil is already topping $2.00 a gallon in Maine. At least northern Maine. This is rediculous.

Thank God I have wood back-up!!

[Milwaukee_Guy]

http://www.news24.com/News24/World/News/0,,2-10-1462_1613588,00.html

Outage stops Kuwaiti oil flow
31/10/2004 17:18 - (SA)

Kuwait City - A power failure on Sunday affecting most of Kuwait forced a shutdown of the country's three oil refineries, which could take two or three days to restart, but the nation's energy minister said oil production would not be affected.

Facilities at Mina al-Ahmedi, Mina Abdullah and Shuaiba, run by the state-owned Kuwait National Petroleum Co (KNPC), process about 930 000 barrels of oil per day.

"The three oil refineries stopped operating gradually after the power cut (which hit) the country", said KNPC spokesperson Mohammed al-Hajiri.

Shortly before Hajiri's statement, state-run Radio Kuwait, cited the energy ministry as announcing that the country had been hit by a total power blackout due to a "technical fault that is being repaired".

Within a few hours, electricity had been restored at Mina Abdullah and work was under way toward restarting it, according to Hajiri.

"Because the shutdown was an emergency one, it will take two to three days to bring them back on line," Hajiri said.

Excerpted - More at link.....

[thegreatbeast]

Not much talk about the effect ofoil prices on the election. Personally, I think the rise is the Saudis (and others) way of influencing the election.
There has been talk of $80 oil next year. get ready for a bumpy ride.

[mlocher]

it will hit oil prices, but out problem is gasoline prices. the two are not as closely related as you would think. our epa and clean air act have effectively kept us from having built a new refinery in over 25 years. further, there are 17 states with their own air policies requiring refineries make gasoline for "niche" markets. as a result, we are taking a commodity serving a mass market and turning it into a "value priced product" that must meet the needs of several niche markets. so much for economies of scale....

things are so bad that we import 10% of our gasoline (not oil) and we are having difficulty finding overseas refineries to make gasoline for us.