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Could Rita cause a real "Oil Storm" scenario?

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posted on Sep, 21 2005 @ 04:51 PM
I have read reports now, that Hurricane Rita (cat. 5) could potentially disrupt oil production in the region to the tune of over 3 million barrells a day. Gas prices are now predicted to be over $5/gallon by the middle of next week in a worst case scenario. Aside from potential damage to oil supply lines, finished gasoline production lines are also expected to take a hit. This could be bad news for the U.S. - This info is coming from CNN. What do you think could happen here if the prices were to jump this drastically, and gasoline was so hard to find. (on top of the already faltering economy, and tensions toward the gov't as of late)

posted on Sep, 21 2005 @ 04:54 PM
They are actually projecting a spike back over $3 and as high as $4 a gallon.
Gas prices may go back down to about $2.50 a gallon again sometime around Oct - Nov.
I started a thread on this a little while ago'

posted on Sep, 21 2005 @ 05:05 PM
didn't see your post. been away from ats for a while. when i was checking the news earlier, I thought other people might like to know what I saw.

posted on Sep, 21 2005 @ 08:49 PM
I like the way people think they can predict the oil price.

Here in Australia, say 4 months ago oil was at say 65ISH a barrel.
we were paying $1.05 - $1.10 a litre

When it spiked after katrina it hit $1.35 a litre.
Now, even tho oil has gone back to $66.00 a barrel or there off we are STILL paying $1.33 a litre.

this is ALL about profiteering.

.. even soo. being they oil companies aer trying to convince u that they cant control oil prices and that global effects sway the price.. why can they predict it will drop that low in oct - nov?.... shouldnt they be saying that we have NO IDEA? if there lies were really true?

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