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Re: Raped at the gas pump
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Posted by Steve - IN on August 24, 2003 at 22:33:13 from (12.222.30.13):
In Reply to: Raped at the gas pump posted by Gary in TX on August 24, 2003 at 14:47:16:
If you're farming, you watch the Chicago Mercantile Exchange or the CBOT to get an idea what grain prices are doing, and what fears are moving the markets. For gas, watch the New York Mercantile exchange quotes for unleaded gas. Last week the idea that a number of refinery operations shut down with the power outage made the futures price of gas run up the limits. Why's that? The price of crude hadn't run up. It's because we're hand to mouth with gas. The stuff you put in your tank was probably only refined 10 to 20 days ago, maybe less. And why's that? We haven't built a new refinery in the USA in the last 30 years. Not because the oil companies aren't willing -- but because the enviro wackos and the NIMBY's won't let it happen. Next time you curse the situation, think about how nice it would be to have some extra refining capacity to store extra gas and average in the prices and avoid the price shock --- then blame some tree hugger for creating the problem.
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