Topic: Katrina and gas prices

[Marketing]

Looks like hurricane Katrina is going to cause a spike in gas prices. The US produces about 25% of it's oil in the gulf. Apparently several oil platforms have already been destroyed and damaged is also expected to the largest tanker dock in the US as the hurricane comes on shore. It will take weeks to repair damaged infrastructure as a result of the storm. After hours oil trading in now over $70 a barrel.

Many people will be killed tonight because of this massive storm, RIP.

[unclejpl4x4]

YA  i wish i could of went to new Orleans      and do the Marti graw thing   but after this storm  i think  the city will pretty much be    obliterated      Hope  all thos peeps stuck there  don't drown  that would just suck.

[79coyotefrg]

yep   heres  how neworleans sits

mississippi river is
 here_______                           ___________lake  is here
                    ____neworleans___



the river and the lake are 12 feet above the streets ,  now add a 20-30 foot storm surge over that 12 feet and you have       Lake NewOrleans  

[Marketing [OP]]

Here is a chart showing oil price trading for the past few days...

[Rocksurfer]

They are using the the Superdome stadium as a refuge from the storm but even that is expected to flood on the lower levels. Just think about sitting in the upper levels and watching the field start filling up with water.

[RHG]

Thats got to be some scary shiat right here. I am glad I live in Cali. Hurricanes, what are those? Tornadoes, once in a blue moon. Earthquakes, I've felt two in my life. Insane gas prices and actors for governor, daily occurance. Gotta love it here. But on a serious note, I feel for the less fortunate people in New Olreans who wernt able to make it out in the evacuations. I just hope they were able to make it to some safe grounds.

[mr4x42u]

they just look for a reason to raise the cost of oil..katrina is just another piss poor excuse..sure some of the oil may come out of there,,but is it really a reason for prices to spike ass hi..prolly not..

Oh wait,,some one sneezed at opec,,,raise the prices 

[RHG]

haha thats about right. I just checked weather.com and there are parts of luisiana thats sitting with 20-25 feet of water on top. The eye will hit some time late this evening. That is one long as day! Then after the eye hits they are gunna get beat again by the backside. I hate to say it but there is going to be alot of homeless people after this thing gets over.

[germ]

Saturday morning I saw some talking head on Fox news, who said that the Gulf only produces about 10% of our nations oil, and he thought gas prices would actually drop after Katrina passed thru 

He sited something about the hurricanes last year, and how the prices dropped considerably after they passed, and that the oil companies raised prices in anticipation of the hurricane. I duuno.

I hope everyone is OK, and the damage isn't too awful bad.

Erik

[unclejpl4x4]

well watching the news   and they say they need a day or 2   to acces the damage    but they think  gas prices buy the end of the week  will go up 10-35    or more       But looking at the pumps prices down there it said 2.68 for reg   

[toynorcal]

I was reading up on some of this stuff. They are explaining the size of this storm as part of a 60yr Gulf trend. Every 60yrs the gulf of mexico goes through a warm cycle that lasts about 10yrs and we seem our larger hurricanes during this period. Now, this could be chalked up to el nino babble , but the gulf is sitting at about 80 deg right now, perfect for huricanes.

[Marketing [OP]]

Unleaded wholesale futures are now trading $.10 higher than Wednesday. I noticed that Chevron is usually the first to raise gas prices and today the Chevron near the shop today went up to $2.99 for unleaded regular, $3.19 for super. I have noticed that traffic seems to be slightly down here in town and drivers are going a little slower on the roads.

I think we will see a slide in prices after the holiday next weekend. 

[mudguts]

Almost time to swap the petrol for a diesel and run bio 

[mr4x42u]

Almost time to swap the petrol for a diesel and run bio 

at least bio we support our farmers and not the saudi's...we just need more of it at more stations..i really can't believe this has not taken off more then it has..

[BigMike]

Hmmmmmm. The Arco near my house went down 10 cents today, down to 2.69

[unclejpl4x4]

I think if gas prices  real get high   you will see a jump in moter cycle sales.   Now if only  i could drive my quad 11miles to work on the street    

[Lady Di]

Dang, glad I got gas yesterday, I was wondering why the station was so packed  Duh! Of course. BUt it's not like I won't need more 

[Ferg]

Dang, glad I got gas yesterday, I was wondering why the station was so packed Duh! Of course. BUt it's not like I won't need more

How will this affect your travel plans for MCR4?