Gas shortages

[oosik]

Very true - gas has a very short shelf life. And that is why the raw product is simply left in the ground or stockpiled in very large above ground storage.

Any port in a storm, ANY excuse at all - - raise those final product prices.

 

[EddieWalker]

We are 200 miles North of Houston and right next to Kilgore, where the first major oil discovery occurred. There is oil all over the place here, and we have our own refinery right in the middle of Tyler. Unless the refinery blows up, it's pretty much impossible for us to run out of gasoline.

Wednesday people started posting about a gas shortage, and by Thursday, the panic had set in. People where filling up every gas can they owned, some where filling up five gallon buckets, and others where filing up barrels and water tanks. Lines where out into the streets and the price of gas shot up .30 cents a gallon. If you drove ten miles outside of town to one of the smaller towns, there where no lines, and gas prices where still $2.09 a gallon.

Friday morning it had pretty much passed and everything was back to normal. Fortunately I survived the gas panic of Thursday, as people are posting on FB.

 

[/pine]

It's all about the futures markets and machinations...

 

[sseelhoff]

Our stations ran out (those that are open) have to be very careful where we buy. Stations were underwater, so there is a risk of contamination. Local news did a story on station that was underwater, reopened and started selling again. Destroyed a dozen car engines within hours. Cars made it a few blocks in any direction before dying on the road. City shut them down.

 

[smstonypoint]

It's all about the futures markets and machinations...

It's all about supply and demand.

Via Mark Perry (503 Service Temporarily Unavailable}*

Steve

* Contrary to the message, the link works.:confused3:

 

[cqaigy2]

Gas has gone up here, i figured Labor Day week-end might have something to do with it. Saw a few at $3.15

 

[/pine]

It's all about supply and demand.

View attachment 520521

Via Mark Perry (503 Service Temporarily Unavailable}*

Steve

* Contrary to the message, the link works.:confused3:

Since the US has become mostly independent the economics have changed...it was all about the supply side and who owned the supplies (futures)...short term shortages are not the same as low production shortages...

BTW if you do some digging into past high gas/oil price...it will lead you to no other than the IMF and WB that was responsible for the super high gas prices like in 2008 and others...

 

[California]

What's the WB?

 

[smstonypoint]

Since the US has become mostly independent the economics have changed...it was all about the supply side and who owned the supplies (futures)....

How have the economics changed? Are you claiming that the demand for oil is no longer inelastic? There has been a technological change resulting in a supply shift, but are you claiming something else has shifted the supply curve for oil?

.... short term shortages are not the same as low production shortages.

What does this mean? How are you defining a "shortage"? My working definition is that a shortage occurs when the quantity demanded exceeds the quantity supplied at a given price.

BTW if you do some digging into past high gas/oil price...it will lead you to no other than the IMF and WB that was responsible for the super high gas prices like in 2008 and others...

If you have a link, please post it. I am not interested in chasing vague conspiracy theories.

Steve

 

[smstonypoint]

What's the WB?

I'm guessing the World Bank.

Steve