Posted on 09/24/2005 1:07:09 PM PDT by Perdogg
Official: Oil refineries look OK Refineries, chemical plants could reopen next week
BAYTOWN, Texas (CNN) -- The largest oil refinery in the United States reports no major damage from Hurricane Rita, an official who monitors the region said.
The Exxon-Mobil refinery, the largest in the United States, is located in Baytown and was undamaged, Ed Hawthorne, of the Channel Industries Mutual Aid group told CNN
(Excerpt) Read more at cnn.com ...
That's a relief. Now let's learn our lesson and build some more.
gas prices down next week, stock market up.
Big relief rally on Wall Street next week???;))
The Dems. are crying.....I personally think President Bush, saved them....
Sucks for CNN. They had to go through the unfortunate act of having to write out this whole article, when they probably had a template ready on standby to use to say that the price of gasoline will skyrocket to $48,000/gallon this week.
Don't mess with Texas! ping
amen. The newsmedia is sad that we don't have to pay $5.00 a gallon.
Not just build more, but diversify natural disaster risks by building refining capacity in other regions of the country.
Rita is just hitting here now
Shes low and slow. Im thankful that she lost power prior to landfall.
There were a lot of folks speculating in oil that are sellingstocks as we speak
We are not out of the woods. There are 2 to 3 systems forming around Aruba. Rita could double back, a weaker storm though.
Meanwhile, in our world, one of the Exxon stations in Nashville went DOWN 2 cents this morning, to 2.77, while another one down the road has hung in at 2.75 for about a week now. Wveryone else is going up to 2.89-2.94.
"I think the people who run these oil facilities have better forecasting. I think they were at 24-hrs ahead of everyone else last week when the spot market went up, and subsequently down."
Yup. I followed the markets closely - Rita looks most dangerous on Weds night, so the markets were high then...
but on Thursday, the hurricane weakened and changed track.
Once it went down to cat 4, it was clear the refineries would not have long-term outages ... and the rigs would be less affected as well.
Markets anticipated this by having oil and gas fall back in price on Thursday and friday.
"There were a lot of folks speculating in oil that are sellingstocks as we speak"
on a saturday?!?
Ya think?
Am checking a map now, rivers and tributaries. Rita's carrying a lot of water from the Gulf.....so stay safe, My, and watch your back.
On Saturday, sure. Wait till you see how much they sell tomorrow!;^).
However, this will not stop the doom and gloomers in the MSM from continuing their gnashing of the teeth and the whining.
Now they're on to whining about the cost of natural gas.
Not much water here yet
I couldnt ask for a more controlled flow at this point.
We are just seeing feeder bands here at the moment
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