Feralpeg said:
I really think it is an over reaction. This happened last year following Charley, but only lasted a couple of days. I hope that is true this time. I paid $2.89 a gallon.
Well this is MUCH different. This isnt about price now. Now it's about quantity. While after Charlie it was a problem for less than a week. This will be different.
Over 50% of the US's oil come from the Gulf of Mexico and the oil platforms there. While Charlie damaged some of them, the platforms had power and were running within days after the storm.
This is much different. The Platforms are heavily damaged and completely out of commission right now. they have no power still and they dont even know when they will get it.
While I think it's a "slight" overreaction, I think many will be surprised that this may be the norm for at least 2 months.
This morning I talked to a guy with Exxon who was transferring fuel from a fuel truck to the gas station. He mentioned that he thinks this will last for a little while unfortunately.
This is much different than the 70's shorteage when we were short on Mideast Oil. This is all about domestic oil, which is scary, because now, if the MidEast oil prices rise due to demand, we wont be able to control the cost, unlike in the 70's when the lowering of domestic oil could reduce the burden, somewhat of the mideast oil.
Hopefully we get it solved soon. Makes you think we should really start looking for alternative means of fuel and not rely so much on international oil since as a country, we are so dependent upon it.
BREAK OUT THE HYDROGEN CARS!