You didn't read the article. If Valero's refineries are shut down, the "oil CEO" won't be making a dime.
whatever refined products they have in storage, will instantly be worth far more. they will ramp up the price on whatever they have "in the tank", that's already been paid for and refined.
they will do just fine.
Busted, I didn't
Valero has the St. Charles Refinery down still, the Krotz Springs Refinery was down and then on partial capacity, and the Memphis Refinery was on low production due to a shortage of feed.
At risk from this storm is Valero’s Orange Texas Refinery, Texas City Refinery, Houston Texas Refinery, Corpus Christi Refinery, Three Rivers Texas Refinery and much of their supply and pipeline facilities. This is potentially billions in lost production and repairs.
Bill Greehey held the price on gasoline in Louisiana, kept stations open when nobody else did, and even supplied free fuel to rescue and relief efforts. Tuesday after Katrina, he donated $1 million and has continued to support relief efforts. He is one of the good guys folks!
Even Katrina did not do that much damage.
If the oil companies use this to jack up prices, it will have a good effect in that it will help stop panic at the pump, but let's face it, it will be profiteering and frankly, despicable at the end of the day.
Think a lot of folks here are forgetting the /sarcasm off???
Can't think they are at all 'series'........