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Gas prices surge as Ike closes in on Texas

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posted on Sep, 12 2008 @ 09:53 PM
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Originally posted by marg6043
I am from South GA, I already posted what is going on in my neck of the woods.

loammy friend I have not reason to lie, what I posted is what is going on in my area, already gas in other small towns is gone.


I'm where you are, Marg, and I can testify as to the price.

Yesterday afternoon, it was between $3.67 and $3.71 around town.

At 11:00 this morning, it was $3.99 with short lines.

At 3:15 this afternoon, it was $4.49 with longer lines.

At 8:45 tonight, some stations had it at $4.99, others at $5.29 between Moultrie, GA and Albany, GA (I live in Albany).

At least 5 stations in Albany are closed, saying they are out of at least Regular Unleaded.

Most are expecting the prices to go up even higher in this area tomorrow.

Glad I got gas earlier in the week when it was $3.59.




posted on Sep, 12 2008 @ 09:54 PM
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I think it's obvious to tell what is going on in my neck of the woods by my previous post.

People are idiots and we're all going to pay out of our pockets because of it. Like these people need any excuse to gouge us more... let's buy up all the supply in one day so that there's a massive shortage!!!!

Great plan...


[edit on 12-9-2008 by Sublime620]



posted on Sep, 12 2008 @ 10:22 PM
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I live about 25 miles north of Atlanta. The two closest gas stations I passed on the way home tonight are sold out.

I know me saying this on ATS isn't going to wreak anymore havoc than has already been done with people rushing out and filling up, so I'll say it... Now I know a couple people mentioned refineries were shutting down, but my father-in-law works for a pipeline here in north GA, and he told me they have completely shut down the pipelines (which run from I think Louisiana or Texas to New Jersey) until at least Monday, possibly longer depending on what happens with Ike. So, what I guess that means is once the stations are out this weekend, they are out till early next week.

He told me he didn't understand why they are doing that... that, in his opinion, there was no need to shut down the pipeline. He's worked there over 30 years. So, figure that one out...



posted on Sep, 13 2008 @ 10:48 AM
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And it is going higher... eventually it will everywhere.

abcnews.go.com...


Fears of gas shortages are leading to exploitation in some parts of the Southeast, where some stations are reported to be charging as much as $6 a gallon for gas.

In North Carolina, Gov. Mike Easley has declared a state of "abnormal market disruption" and signed an order allowing the attorney general to enforce the state's anti-gouging law. In South Carolina, Attorney General Henry McMaster invoked a similar law for his state, and Kentucky Gov. Steve Beshear declared a state of emergency.

"Fear of price gouging is bad in the state right now," Mark Plowden, communications director for the South Carolina attorney general told ABC News. "Public panic can cause a run on the pump, creating more panic, so we are trying to control the situation."


Why haven't we heard any outrage over this from the Bush administration?

$6 per gallon gas coming to a station near you soon!



posted on Sep, 13 2008 @ 10:51 AM
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reply to post by The_Alarmist2012
 




That graphic is insane.

Here is the real question. Given the likely devastation, how much more do we think our economy can bare?

Did we already essentially sink ourselves with the Fannie and Freddie bail-outs?

Does Ike secure our demise?

[edit on 13-9-2008 by loam]



posted on Sep, 13 2008 @ 11:10 AM
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Originally posted by loam
Here is the real question. Given the likely devastation, how much more do we think our economy can bare?


The real question is how are they getting away with this?

Of course the economy will be damaged by this storm and the apparent shut down of a cluster of oil refineries, but honestly how the hell can these people justify raising gas prices BEFORE the damage is done?

I know people who have long commutes to a from work, and with gas prices like this a a large portion of their weekly pay is spent on fuel to and from work.

We need to hear from the presidential candidates on this current fuel crisis. That may not happen because everyone in Washington has had a taste of big oil monies.



posted on Sep, 13 2008 @ 11:32 AM
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reply to post by The_Alarmist2012

Of course the economy will be damaged by this storm and the apparent shut down of a cluster of oil refineries

The refineries and oil platforms always shut down for approaching storms. This time is nothing new so far as that goes.

The oil companies have massive reserves of oil and fuel ready to go. That is so they do not have to interrupt the flow of fuel during times of crisis (even the best machines break and need repair time to time). The problems in Atlanta due to Katrina were over a problem with the pipeline itself, not the supply, and the problem was fixed within a few days.

This is nothing more than another artificial shortage similar to the 70s. The media played up a low-probability situation (you be the judge of why), the gas station owners then responded to the massive increase in demand. I wonder if the oil industry itself had anything to do with this (at least once it got past the media hype stage).

Let's see: we have:

  • The most non-issue-driven political election campaign in memory (mine anyway).
  • A political climate where alternate drilling is hotly disputed.
  • A special investigation report from CNN recently where the doomsday scenario of a major hurricane hitting Houston was the shown to be the catalyst fo world devastation.
  • Two major hurricanes crossing close to the drilling platforms in the Gulf within a week of each other.
  • A hurricane hitting Houston.
  • A media scare tactic spiking public demand for gasoline.
  • The poorly-explained shutdown of a pipeline to N. GA (as someone earlier posted).
  • Gas shortages and panic before the hurricane hits even.
  • Total and complete silence from the MSM about the reserves available for such an event to prevent supply disruption.
  • Not one peep out of the MSM about how the refineries did through the storm (that I have heard).


That's an awful lot of coincidences, but they must be coincidence. If they weren't, the MSM would be talking about it on the evening news. Right?


TheRedneck



posted on Sep, 13 2008 @ 04:26 PM
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reply to post by TheRedneck
 


To clarify, it was Colonial Pipeline that shutdown. It doesn't just serve N GA, it runs from Houston to New Jersey, pushing 2.5 million barrels of gasoline a day to many terminals between.

Here is a basic map of the pipeline: www.colpipe.com...



posted on Sep, 13 2008 @ 04:47 PM
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Surprise surprise!!!

I went out today and many gas stations still had gas!

All that panic, and for what? Even with the entire continental US filling their tanks yesterday, there is still gas left over. So now we've extremely crippled supply, and for what?

Prices are inflated now because everyone had to top off their tanks. Selfish idiots.

[edit on 13-9-2008 by Sublime620]



posted on Sep, 13 2008 @ 05:36 PM
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reply to post by Sublime620
NOOOOOO! Say it ain't so!

They still have gasoline? Blasphemy! They were supposed to be out! The MSM said so! You're just a shill for the non-doomsayers!

[/sarcasm]

I wonder what the profit margin for Mobil will be this quarter? I also wonder how long Hugo can keep laughing hysterically like that before he drowns in our money....

TheRedneck



posted on Sep, 13 2008 @ 07:58 PM
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See its funny, cause i'm in Texas, hurricane Ike just passed over, i can still see remnants, but I work at a gas station, and gas is some 3.65 9/10 so I guess were doing ok down here? I'm just assuming its harder to get it over there.



posted on Sep, 13 2008 @ 08:03 PM
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Sorry for double posting, but yeah some guy had the nerve to come in and cuss me out about the price of gas, ours was 2cents lower then the rest of the city, *YEAH I KNOW* he comes in ask to speak to the manager after collecting himself from the 15 cent increase, 17 cents everywhere else, i tell him the managers not in, then he asks for the Managers phone number, i say no, it wouldn't do any good, and gave him corp phone number, (YOU DON"T MESS WITH MY BOSS HE WILL FIGHT YOU) (Literally he'll fight you he doesn't care if he loses either) then that POS called the police on us for Price Gouging. I ignored him after the phone call.



posted on Sep, 14 2008 @ 12:42 AM
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Fortunately, here in Oklahoma we have a few refineries and a little crude oil of our own. I paid $3.27 per gallon for regular unleaded Friday morning. Today I was shocked to see it at $3.59 per gallon. I hope prices drop rapidly nationwide after the weather normalizes.



posted on Sep, 14 2008 @ 01:17 AM
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reply to post by The_Alarmist2012
 

One thing you don't understand is that gas prices have to go up immediately in order to pay for the next shipment. There is a reason why gas prices seem to shoot up instantly with the market and take a while to fall back down. The reason is because individual gas stations make pennies per gallon of gasoline. If they don't raise their prices immediately, they won't have enough money to pay for the next shipment of higher priced gasoline. It costs them tens of thousands of dollars to fill up their tanks. If they don't have the money on hand, they don't get any gasoline and their businesses go under. Remember, the gas stations are operated by the little guy. Oil companies are getting out of the retail business because there isn't any money in it. Exxon sold off their gas stations because they're hurting their profits.

Conversely, prices decline more slowly because they have to sell off the higher priced gasoline first. Retail gasoline stations, once again, make pennies per gallon of gasoline. If they sell the gasoline in the tanks for less than what they paid, they'll lose money.

This is why gas prices rise instantly and fall over longer periods of time. This is fundamental to understanding how the market works. You may not like it, but gasoline prices rising 12 cents overnight is completely warranted. NO DRIVER LIKES IT! I HATE IT! But it has to happen for these businesses to survive.

Now, obviously gas shooting from $3 a gallon to $5 a gallon overnight is a problem, but a 12 cent jump due to a storm is entirely reasonable. You don't like it? CALL YOUR CONGRESSMAN AND SUPPORT OFFSHORE AND ANWR DRILLING AND MORE REFINING! It's the only thing that's going to fix this for the long term. That way, when a hurricane threatens the Gulf Coast, we'll have plenty of oil coming in elsewhere to cushion the blow.

[edit on 14-9-2008 by ChocoTaco369]



posted on Sep, 14 2008 @ 04:10 AM
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Between Atlanta, GA and Birmingham, AL most stations were down to premium or completely out by 11am on Saturday. There are maybe two stations out of 6 that still have any gas and it's up 50 cents or more from one week ago. The ones that do still have gas have signs up asking, not requiring, a 10 gallon limit.
I've heard some alarmist theories on prices but with the lack of news out of Texas I'm feeling uneasy.



posted on Sep, 14 2008 @ 09:35 AM
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Originally posted by ChocoTaco369
One thing you don't understand is that gas prices have to go up immediately in order to pay for the next shipment.


I have a hard time accepting this, I have heard this explanation in the past, it doesn't seem right. Prices change when the winds blow?

If they have bought the gas at this price $$$$ and are selling it at this price $$$$, and because there are reports of potential supply and shortage issues they can then justify raising the retail price of the gas they bought at the low price to whatever they feel they will need to cover potential future increases?

Pardon me, but bull#!

They should buy the gas at the higher price THEN raise the retail prices.

This is nothing but gouging, plain and simple it is gouging. It should be a crime.

This whole thing does show how the prices we all pay for fuel are all driven by speculators... Investors who are all seeking to make as much as they possibly can... With the obvious potential for damage to the US economy this has, we have all seen it and felt it... There needs to be some kind of federal regulation.

[edit on 14-9-2008 by The_Alarmist2012]



posted on Sep, 14 2008 @ 09:47 AM
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More news...

www.washingtontimes.com...


John Porretto and Mark Williams ASSOCIATED PRESS
Sunday, September 14, 2008

Fears of supply shortages and actual fuel-production disruptions resulting from Ike's lashing of vital energy infrastructure led to pump-price disparities of as much as $1 a gallon in some states, and even on some blocks.

Late Saturday, the U.S. Minerals Management Service said there were two confirmed reports of drilling rigs adrift in the central Gulf of Mexico.

Compounding the jitters and higher costs for gasoline retailers was the fact that some big refineries along the Gulf Coast had been shut for nearly two weeks following Hurricane Gustav. Power outages caused by Ike threatened to keep millions of gallons of gasoline output idled for at least several days.



posted on Sep, 14 2008 @ 01:18 PM
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reply to post by The_Alarmist2012

This whole thing does show how the prices we all pay for fuel are all driven by speculators... Investors who are all seeking to make as much as they possibly can


Please remember this when you ask for a raise next time. That is trying to make as much as you possibly can. And that, my friend, is saying one thing while doing another - hypocrisy.

You want this to end? Then get on the bandwagon to drill more wells and build more refineries in other locations than TX/LA. That way, if 'the wind blows' in one place, the other locations can take up the slack.

Otherwise, sit back and enjoy the ride. Don't cry when the horse you're riding stumbles, after ignoring warnings for years it has a weak leg.

TheRedneck



posted on Sep, 14 2008 @ 01:40 PM
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Originally posted by TheRedneck
Please remember this when you ask for a raise next time. That is trying to make as much as you possibly can. And that, my friend, is saying one thing while doing another - hypocrisy.


I have never in my life or careers asked for a raise, though I have earned many.



You want this to end? Then get on the bandwagon to drill more wells and build more refineries in other locations than TX/LA. That way, if 'the wind blows' in one place, the other locations can take up the slack.


I'm not getting on that bandwagon, it is just more propaganda, these oil companies want Americans to fear disruption of oil and higher prices so they can find and explore MORE ways to increase our dependence on oil, both domestic and foreign... Hopefully these oil crises will motivate the American people to explore more viable alternatives to oil, and break the grip big oil companies have on our lives.



posted on Sep, 14 2008 @ 01:49 PM
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Originally posted by ChocoTaco369
reply to post by The_Alarmist2012
 

Remember, the gas stations are operated by the little guy.

Retail gasoline stations, once again, make pennies per gallon of gasoline.


Exactly, the way gas stations make their money is selling chips, beer, and cigarettes.



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