Oil platform fire-gas prices

Map shows 3858 oil/gas platforms in the Gulf, wonder if prices will go up with a fire on one.

doubt it, at full production the whole gulf of mexico only produces 15%-18% of amercia's oil needs. Plus i beleive its a semi-submersible drill rig, not a production rig.

Its spring and people are starting to travel. As usual, gas prices get hiked up.

Diesel is now the same ($2.96) or higher ($3.14) than premium.

They get you for traveling and again at the store.

I read 11 people still missing, not good news

They found them ok in a life boat

WHY do you think prices won't be impacted? Every time ONE rig goes off-line, prices skyrocket because speculators figure the stupid public will "buy" their explanation that the entire supply chain has been "disrupted."

Oil ALWAYS goes up when ONE rig has a problem. It's part of the market manipulation plan, and oil companies are laughing at consumers all the way to the bank.

Given that it was a DRILLING RIG, and NOT a PRODUCTION P/F, it should make no difference, but that won't stop the know it all, no nothings on here from whining.

Might just be a way of getting rid of an obsolete rig and bump up oil prices at the same time..

Buzz please tell us how this plan works, there are probably many people on this forum that would love to know how to charge more for what they produce and still sell it.

Still missing, the news I watched earlier was wrong.

Alright anybody who still thinks oil prices are caused by supply and demand needs to read Micheal W.Masters testimony in front of Congress in May 2008.

http://hsgac.senate.gov/public/_files/052008Masters.pdf

Its not related to supply and demand.Speculators are making the price go up and down by manipulating the stock market.There is a surplus of oil,plus all the storage is full,and a month ago demand was down over 10%.Its plainly speculators running up the price now and we need to make Congress do something about it.

Oil companies raise prices quickly, in case you hadn't noticed. Oil that sells for $83 a barrel on Tuesday apparently hits the gas stations on Wednesday, refined and all, if the price per barrel has risen since Monday. [If the price is going down, that Tuesday oil doesn't arrive until a couple of days later.] Not sure how the oil companies do it, since I've never heard of a tanker ship that could travel that fast...but whenever the wholesale price of a barrel of oil rises, gasoline goes up a corresponding amount within 24-36 hours [and usually less time].

And since folks like me have to use either gasoline or diesel fuel to get to work, we are at the mercy of the posted price. We don't get to tell the oil companies to "sit on it" until the price goes down, because we have mortgages to pay and utility bills that go on whether we make the drive to work or not. So we make the drive to work in order to draw a paycheck, and we end up paying whatever they charge us for gasoline or diesel fuel, because our only other choice is to risk losing a job in a "down" economy, and thereby risk losing our home. Not all products are the "must-have" that motor vehicle fuel is, so using the oil companies' "formula" won't necessarily work for EVERY product on the market.

Now, that wasn't so hard to understand...was it?

Also called market share. When you have 1/3 or 1/4 of all their is available. Supply and demand goes out the window.

Case in point. Our small town had fuel .03 to .06 /gal less than the closest large town 30 mi. away when we had 4 seperate owners selling fuel.

Now we have 2 and our prices are .08 to .10 higher.

Also called Monopoly