Posted on 08/31/2017 6:26:40 PM PDT by Snickering Hound
DALLAS - As gas prices spike across Texas and fuel runs short at some gas stations, officials say there's no shortage of fuel in the state because of Harvey.
Texas Railroad Commissioner Ryan Sitton said consumers are putting undue demand on fuel and that's making it difficult to resupply gas stations in a timely fashion. He called the problem simply one of demand and logistics.
"There's plenty of gasoline," he said. "This will subside."
Sitton says he understands the worry as people drive up to gas stations and see high prices, long lines and red bags covering gas pumps.
But here's why this is happening, the commissioner says:
• Rumors spread of shortage, spurring rush to gas stations
• Gas stations see higher demand than usual
• Stations run out of gas at a high rate due to demand
• Station owners become concerned about supply, raise prices
• So many stations run out of gas it takes longer to resupply
Just like the banks, Sitton said there's plenty of supply, but it will take longer to get that gasoline to the stations due to the high demand.
• The entire world uses 100 million of refined product daily
• The U.S. refines 18 million of those 100 million barrels
• Six million of that 18 million is refined in Texas
• About half of that six million is currently offline or at reduced capacity due to Harvey
"So, yes, that's a lot," Sitton said. "However, we have 230 million barrels of gasoline in storage in the United States right now. So if that three million barrels of refined capacity stayed offline for an entire month that would be 90 million barrels that wouldn't be produced. That would be less than half of what we have in inventory."
(Excerpt) Read more at khou.com ...
Panic driven spike?
Petroleum investors not happy.
The guy’s a liar.
I just pulled up the gas buddy map. Almost all the stations in North Dallas and the northern suburbs are out of gas.
So I’ll say it again. He’s a liar. And not a very good one.
He’s totally lying to prevent runs. Atlanta is starting to get thin on gas.
“Panic driven spike?”
Human nature.
A lot of OIL. Stuck in the flood. Refinery capacity knocked out.
Be nice if cars could run on crude oil. They can’t.
When folks remember what happened last time the Colonial pipeline was shut down, they'll run top up their tanks. Apparently the Lake Charles Refinery is fine, and the Baton Rouge Exxon facility wasn't close to the storm, so perhaps the southeast will get through things ok. If prices get high enough, we should start getting some gasoline out of Oklahoma.
There might be a fair amount of gas left in refinery tanks. But what’s going to deliver it? Slow boat?
My question is, what are the Tesla owners doing since the power is out?
No, this is nothing more than a scumbag enemedia-driven “crisis” that became a self-fulfilling prophecy by morons who still listen to the MSM POS. A temporary shutdown of a couple of a couple regional refineries has only a slight impact on supply; however, every braindead dumbass running to fill up their car out of panic overwhelms the natural purchasing pattern, which is why all of these stations are now out of gas. By Saturday everything will be back to normal...
I saw a link posted earlier stating that 22% of our refinery capacity is offline.
Sounds like there is a crisis, just not caused by lack of inventory but by an attempted shift of inventory location.
Unfortunately my fam tactical reserve was disrupted by a physical move and I’m down to a few weeks w/o a trip to refuel for daily travel. Hurricane Season is a time to be drawing down from a full reserve filled with Summer fuel in anticipation of a partial refill with Winter fuel when that stuff is in the station tanks.
Oh well. Let Texas and La. recover soon.
Corpus Christi’s Storm-Ravaged Energy Industry Begins Slow Recovery
and
Traders Clear Europe’s Tanks by Shipping More Gasoline to U.S. (at what price?)
and
Corpus Christi’s Storm-Ravaged Energy Industry Begins Slow Recovery "Refiners Citgo Petroleum Corp, Flint Hills Resources and Valero Energy Corp are moving to restart their plants in Corpus Christi, as is the nearby Valero Three Rivers refinery, according to sources, company officials and filings."
I am in Garland and a friend suggested the Gasbuddy app, which helped.
It’s probably a self fulfilling prophecy— we all realized gas might be scarce, ran to the stations all at once, and lo and behold, gas is scarce.
At one I saw, a guy in the middle lane was waiting to cut into the line, so then he merrily went to the head of the very long line and cut in. At the one I was waiting at, one person drove past the obvious line (what was he thinking?) and headed straight for a pump. Much honking from everyone taught him the error of his ways and he made a u-turn and headed a half block back to the end of the line.
This whole thing will pass over in 4 or 5 days. The problem is a combination of things. Some is panic, some is price going up, and from I saw today in Dallas some is idiots running around in a dither because they had little gas to start the day and were tearing around trying to find it and burning up the little they had. Also it’s a holiday weekend. Any travel of consequence over the short holiday brings with it the worry travelers may have trouble refilling in order to get back home. Uber service apparently was pretty much nonexistent today as well.
There have to be at least 250,000 storm flooded cars in Houston that aren’t going anywhere. People wanting to fill up before the price goes up any more. Deliveries are bound to be down with refineries shut down and roads flooded. I think they can get the refineries back online fairly quickly though.
I would have thought Atlanta, Texas would be flooded being that close to Houston.
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