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Gas $5 a gallon by Friday?
WAFB TV ^ | September 11, 2008 | George Sells

Posted on 09/11/2008 3:32:57 PM PDT by kms61

Expect gasoline prices to rise overnight as much as a dollar and-a-half a gallon. That's the warning from several business sources including one major Baton Rouge multi-station operation.

However, a spokesman for Triple A Louisiana discounted the report. "We still have at least a 20 day supply, said spokesman Don Redman. "We certainly wish we had a healthier supply than that but we are certainly asking the service station industry to refrain from any panic pricing," Redman said.

The approach of Hurricane Ike to the Houston area has produced a panic gasoline markets. The fears are driven by the fact that refineries are shutting down in metro Houston taking away 16 percent of America's gasoline refining corporation.

The controller of one gasoline operation tells WAFB News she is ordering her delivery truck drivers to pickup no more gasoline deliveries after 6 p.m. today which is the normal hour that prices are changed by refineries for the subsequent 24 hours.

WAFB News has learned that the daily price-setting from Shell Oil Company, which usually comes in by 3:30 in the afternoon still had not arrived at 4:15 p.m.

A gasoline price guide used by the industry, known as "Fuel Prophet LLC" is advising Gulf Coast dealers to prepare for a price rise overnight of $1.41 a gallon for conventional unleaded gasoline. The so called "rack advice" for low sulfur diesel fuel is much more modest - 15 cents a gallon.

The Louisiana Oil Markets' Association has posted an emergency message to State Attorney General Buddy Caldwell warning him of the expected increases in an effort to avoid allegations of price gouging.


TOPICS: News/Current Events; US: Texas
KEYWORDS: energy; energyprices; gas; hurricane; ike; price
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To: dfwgator

Holy Crap, it still has it as a hurricane just south of DFW.
~~~
I think the power will be out all along the path clear into

Arkansas,,,

Rig info :

http://www.rigzone.com/news/article.asp?a_id=66545

“With current sustained wind gusts of nearly 100 mph, the storm has the potential of turning into a Category 3 hurricane in the

next 24 hours. Gaining strength over the warm waters of the GOM, the storm is expected to be its strongest when passing oil and gas fields and facilities in the central GOM. While the path of the storm has changed over the last couple of days, all measures have already been taken by the oil and gas industry to ensure the safety of its offshore personnel and facilities.

According to the most-recent report from the Minerals Management Service, personnel have been evacuated from 452 production facilities, or 63% of the 717 manned platforms in the GOM. Additionally, personnel have been evacuated from 81 rigs, accounting for 66.9% of the drilling rigs currently working in the gulf.

Production has, again, been brought to a standstill, just a week after the passing of Hurricane Gustav and subsequent production shut-in. The MMS reports that 95.9% of the oil and 73.1 of the natural gas produced in the gulf are currently shut-in.”
~~~
The refineries in the Galveston area are already shut-in,,,

I wonder how much home heating oil is gunna cost ?...


21 posted on 09/11/2008 4:08:20 PM PDT by 1COUNTER-MORTER-68 (THROWING ANOTHER BULLET-RIDDLED TV IN THE PILE OUT BACK~~~~~)
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To: kms61; Repeal The 17th
I agree, but it wouldn’t help in this case, as it’s about a refinery chokepoint.

I think Repeal The 17th was including refinieries in his statement.

22 posted on 09/11/2008 4:12:11 PM PDT by Cobra64 (www.BulletBras.net)
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To: Cobra64

I do not understand why a dependable supply of petroleum
isn’t recognized as a national security issue.
We need to do it all ...
explore, drill, refine, nuclear, and alternatives...
to ensure that we are not vulnerable to the whims of others.


23 posted on 09/11/2008 4:17:04 PM PDT by Repeal The 17th
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To: kms61

Producing oil wells and many refineries all located on the gulf coast with everything shut down everytime there is a hurricane doesn’t make much sense, does it? People have been talking for years about how we need more refineries, but nothing gets done.


24 posted on 09/11/2008 4:29:44 PM PDT by smokingfrog (He that lives upon hope will die fasting. - Ben Franklin)
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To: RobRoy

This guy is a lightweight in a small po-dunk market competing against 2 other stations. If it wasn’t for recipes they’d have nothing to talk about.


25 posted on 09/11/2008 4:43:03 PM PDT by rvoitier ("I'll see you at the debate, bitches!" ~~ Paris Hilton, '08 Campaign)
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To: kms61; RobRoy
"could you elaborate?"

Scare-mongering anyone?

26 posted on 09/11/2008 5:10:49 PM PDT by editor-surveyor ( If Obama had Palin's resume and experience Obama would be qualified to be VP too.)
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To: CharlesWayneCT
Is this a local market prediction based on localized shortages ahead of the weather? If so, probably should put a parenthetical statement in the headline that this is local news, so some people don’t panic and buy up all the gas tonight, causing shortages.

It's nation wide price increase no joke. I went to my local gas station a few minutes ago and the ownwer who always gives his customers heads up on major price increases said he was going up one dollar after closing tonight. This is in East Tennessee and very close to the regional Tank Farm. I filled my tank needless to say. Gas here at the moment is 3.59- 3.69 and stations are selling out fast.

27 posted on 09/11/2008 5:10:59 PM PDT by cva66snipe ($.01 The current difference between the DEM's and GOP as well as their combined worth to this nation)
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To: Mr Ramsbotham
"$5 a gallon means you might be able to get some when you need it."

Exactly! - And not because of Govt rationing. Let the market self-regulate, and the supply will always meet the demand.

28 posted on 09/11/2008 5:16:15 PM PDT by editor-surveyor ( If Obama had Palin's resume and experience Obama would be qualified to be VP too.)
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To: Repeal The 17th
Every hurricane that passes further illustrates our current national vulnerability to a steady and continuous delivery of petroleum resources. Drill here drill now.

I'll take that a step farther... Don't just drill here, build refineries here as well! And not just in the storm-prone gulf region.

29 posted on 09/11/2008 5:17:50 PM PDT by TheBattman (A vote for the "lesser evil" is still a vote for evil!)
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To: TheBattman

Amen.


30 posted on 09/11/2008 5:25:40 PM PDT by Repeal The 17th
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To: Eaker; TheMom; humblegunner; weegee; Allegra

Yikes Ike !

Better get yer water wings out and check em folks .......ya’ll be real careful !!


31 posted on 09/11/2008 5:44:06 PM PDT by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: kms61

Man, wife said there is a good 17 car line at the station below the house.. and we are nowhere near the path of the Hurricane here in north Bama.


32 posted on 09/11/2008 5:47:18 PM PDT by LowOiL (Transition time for tag lines)
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To: Squantos

No worries.

I’m prepared, I’ll stand fast.


33 posted on 09/11/2008 5:54:27 PM PDT by humblegunner (I'm voting for McCain because he's white.)
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To: humblegunner

Keep us posted if ya have time and power permits HG !

Nite !


34 posted on 09/11/2008 6:01:44 PM PDT by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: Squantos

Our son taught the NewPuppy to swim today so we should be fine. Lil’ bastard is seven months old and about sixty pounds (the pup not the boy).

You stay dry up there in Swishy Rump!


35 posted on 09/11/2008 6:06:09 PM PDT by Eaker (Dutch expression “You can give a monkey a gold ring, but it stays an ugly thing.” - EscapedDutch)
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To: humblegunner

You got that damned midget locked in the shed and all tarped down?


36 posted on 09/11/2008 6:10:20 PM PDT by Eaker (Dutch expression “You can give a monkey a gold ring, but it stays an ugly thing.” - EscapedDutch)
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To: TheBattman
We can't do that because coal and oil makes Harry Reid sick. Bless his heart. And besides it would take 15 years to start doing all of that. (sarc. off)
37 posted on 09/11/2008 6:13:15 PM PDT by kempo
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To: Eaker; Squantos
You stay dry up there in Swishy Rump!

Squantos lives in Swishy Rump?

I've heard things about that place.

He should update his profile page.

38 posted on 09/11/2008 6:13:23 PM PDT by humblegunner (I'm voting for McCain because he's white.)
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To: kms61

A friend where I gas up said gas is going up 50 cents in the morning. Its $3.59 now.


39 posted on 09/11/2008 6:15:17 PM PDT by kempo
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To: Eaker
You got that damned midget locked in the shed and all tarped down?

Nope.

The shed is tight but I'm inclined to let ol' Winky run loose.

I might could have some fun with him and make a video.

Tomorrow I'm going to see what Wal-Mart has in the way of big kites.

40 posted on 09/11/2008 6:17:07 PM PDT by humblegunner (I'm voting for McCain because he's white.)
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