I work in the Oil industry (Fill up your tanks now!!!!!)

CHOPTALK · Aug 31, 2005

Let me tell everyone about the oil refineries in Louisiana. Most of them are south of BelleChase Louisiana. This is where the storm did the most damage. The levy in Venice Louisiana which is on the most southern tip of Louisiana washed away along with the whole city of Venice. The next time RandMcnally makes a map Venice will not even be listed. The town is history. Just north of Venice is where all the oil refineries are located in Louisiana except for 1 in Baton Rouge and a few in the Lake Charles area. 10% of the US capacity is south of BelleChase witch is 15 feet under water. I tried to travel over there this morning through a back road but was turned away and told that the road washed away and everything from the coast of Venice to 100 miles north of that is under water. I will now have to travel to my locations in the Gulf by helicopter intsteed. I managed to get to see some of the damage first hand and let me tell you folks. The Tv does not do any justice whatsoever. The worst thing is there is no relief in sight. This is something that will effect every human being on the face of this Earth for a long time. 80% of all Gulf of Mexico oil production is down for at least the next 6 weeks. Fill up your tanks now because $4.00 a gallon is right around the corner.

Brock Landers · Aug 31, 2005

Again...what about IRAQI OIL?? SAUDI ARABIA??

When they threw embargos at us we were screwed, now they give us oil and we lose the Gulf and we are screwed?

WHICH ONE IS IT??

G.MONEY · Aug 31, 2005

Chop..About 2 hours ago fox news showed gas prices in atlanta at a BP at 5.86 so screw 4.00 it look's more like 5.00..........G.

viking611 · Aug 31, 2005

Oil is not the problem....it's the refineries to make gas from the oil. Most our refineries are in the gulf and are out of commission now.

Journeyman · Aug 31, 2005

crippling

quantumleap · Aug 31, 2005

The gasoline that is in the tanks at the gas stations was paid at a certain price. To bump up that price that consumers pay is just plain gouging. It's not like the gas stations had to pay more for that gas.

The same thing happened back in the mid-80's when the Exxon Valdes ran aground in Alaska. The price of gas shot up within the week.

monicus · Aug 31, 2005

Before the storm all of the refineries in this country were running at 96% of capacity to meet summer demand. With many of them underwater there may be shortages to some cities up the Mississippi river. True summer is over now but this was a problem waiting to happen. Every time any refiner went down for a day the unleaded gas futures moved up on the news. The US has not built a new refinery in this country for 20 years.

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This same story is going to be repeated for power generation. We have not built a new nuclear plant since 3-mile island and the ones we have are moving beyond their expected life span.

Omni · Aug 31, 2005

Ever see that movie "Oil storm"?

It's scary how much this situation is resembling the movie. I wonder if this winter when the heating oil prices go through the roof and people can't pay them, how many people will freeze to death in some cities.

And the effects of all this will go way beyond higher gas and heating oil. You can;t just wipe a section off the map and not face some serious consiquences, some of which we don't even realize right now. We are all connected, and what effects one large group of people will eventually effect all of us.

Dawoofdaddy · Aug 31, 2005

Please keep us updated on the situation in Louisiana and thanks for the post.

Polaris · Aug 31, 2005

choptalk, thanks for the update on the situation on the ground regarding the refineries

appreciate it

go2guy · Aug 31, 2005

quantumleap said:
The gasoline that is in the tanks at the gas stations was paid at a certain price. To bump up that price that consumers pay is just plain gouging. It's not like the gas stations had to pay more for that gas.

The same thing happened back in the mid-80's when the Exxon Valdes ran aground in Alaska. The price of gas shot up within the week.

I agree last night I figured people couldn't necessarily cry price gouging because it was only like 20-25 cent increases but you know damn well these gas stations did not pay over a buck from gas last night until now. They pulled this shit during 9-11 as well.

mson · Aug 31, 2005

Its sad how dependent we are still on oil. There are alternatives but they have all been stifled over the years. Thanks for the update choptalk, I'm sure that area of the country is horrible.

CHOPTALK · Aug 31, 2005

viking611 said:
Oil is not the problem....it's the refineries to make gas from the oil. Most our refineries are in the gulf and are out of commission now.

Bingo!!!!!

You are 100% correct. I tried to explain this in the opening thread. I guess I did not do a very good job. This is the #1 problem. I think they can get the Gulf of Mexico up to about 80-85% production within 6 weeks but the problem is if you cant refine it what good is it to produce the oil.

Anonymous1 · Aug 31, 2005

yea...and GW releases strategic reserves of oil...wtff...if you cannot refine it...its just a f'ing political move...thanks for a real person update and not some dumb ass blond employed by cnn or whoever...

WildBill · Aug 31, 2005

Trust me guys, give it a few weeks and refined gasoline will be coming into the country. A couple things come to mind here and doing oil/gas markets was a big part of my job for 3 years.

1. These spot rates seen in the US markets are unsustainable. Markets a short ship away, such as Venezuela, will be cracking oil at top rate and shipping it here. Chavez may hate Bush, but he will love the money. As it is he sells gas subsided to about a dime a gallon in Caracas.
2. One thing that would do us all good is if the tragedy gets Congress and the states to stop the BS and get one or two national gas standards. I think there are something like 17, although that was the case a few years ago. Gas sold in California isn't the same as in Oregon or Arizona. Gas sold in Florida and Georgia are different. Gas in the midwest is much different because of the ethanol lobby. Its sheer lunacy and it needs to stop. In times like this where shipments could be brought in from elsewhere, regulations block it. In fact if you all hear news about this in the coming days, expect prices to fall from where they go up the most.
3. New refineries are almost a certainty now, the political will is about to become overwhelming for it. With all the closings of military bases coming down, they even have logical locations for them.

Just a few implications to look for. As I said in another post, Labor Day coming up makes for terrible timing. In much of the country prices won't go up enough to get people to cancel trips, but in the Midwest and South it just might. That alone plus likely a slower economy is going to balance out the oil/gas market pretty quickly.

redpimp · Aug 31, 2005

I already filled up and some more!!!!

But the funniest thing i am now dreading is some one siphoning gas right out of my car!!!! And i am travelling this weekend..I dont know one safe place to leave the car!!!!:monsters-

Dawoofdaddy · Aug 31, 2005

Sounds like the spin I hear from CNBC and Wall Street. Same was said when oil went from 20s to 30s, 30s to 40s, 40s to 50s, 50s to 60s, now 60s to 70s, and I suppose we will hear the same spin years from now as the price of oil continues higher.

The other spin put on this is the 'adjusted for inflation' comments. What they forget to add is that they are using the absolute top for that time period and not the average.

At least now with the storm the spinners have the "reason" within the ballpark. We should remember that gasoline was btw $2.50-3 BEFORE the recent storm.

The price of gas will go as high as it needs to curb DEMAND to equal the refining capacity lost via storm. Since New Orleans was a major port of imported fuels, even bringing imported fuel will not be as simple as some believe.

The US economy heavily relies on DAILY fuel consumption and whether it is one week to several it will bring a serious downdraft to the economy until the problems are resolved.

It takes YEARS not days or weeks to build refining capacity. Also, just because environmental laws were loosened for this crisis, it will not be so easy to do so permanently.

Once we recognize that all bad news is somehow spinned to make it sound not so bad, we are more prepared to see the truth.

kidslick · Aug 31, 2005

capt.gagb10209010023.katrina_oil_gagb102.jpg

georgia

Kruser6 · Aug 31, 2005

Anyone want to buy my SUV?

go2guy · Aug 31, 2005

KIDSLICK said:
georgia

Man that is fucked up!

I work in the Oil industry (Fill up your tanks now!!!!!)

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