The movie was called "Oil Storm" and was on FX last June (part was filmed here in Austin). Basic premise is that a major hurricane hits the New Orleans area Labor Day weekend, 2005. Because fo the resulting damage, oil prices spike upward and gas goes to $3+ per gallon. Because of the damage, oil imports are diverted to the Port of Houston. Because of the tight shipping lanes and increased traffic, there is an accident between tankers thats damages the port. Terrorists hit Saudi oil sites, we send in the military to protect the oil infrastructure, all the while oil prices continue to climb. At it's worst, the price per gallon is over $8 and the economy is in crisis. People freeze to death because they can't heat their homes, riots break out, we get in a bidding war with China over Russian oil supplies, etc.
SOME of that is goping to happen. I don't think the refineries in Texas will be able to take up the slack. Bottom line. Not enough refineries in the USA.
If the oil is not coming into this country, there will be a world wide glut on the market. Oil prices world wide will crash. However if you can't get it into this country that doesn't help us. But, if we can't take in oil, OPEC will be trying to give it away. The movie did not take into consideration that all the oil we were not taking in anymore had to go somewhere. If our economy fails and can't buy from China, then their economy will also fail.
Yep... that's the one. I forgot about the sending shipping to Houston part.
We missed that, but Sunday night we had dinner w/friends and the husband was talking about this movie. He was just blown away how close to reality it was.