Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 02/03/2010 1:08:49 PM PST by NormsRevenge
NEW YORK (AP) -- Gasoline futures jumped nearly 2 percent Wednesday after the government reported a surprise drop in the nation's supply.
This could eventually tug pump prices higher, but so far that hasn't happened. Retail gas prices have tumbled for three straight weeks.
The Energy Information Administration reported that gasoline stockpiles fell by 1.3 million barrels last week. Supplies sank as U.S. refineries continued to churn out less fuel.
The EIA report said refineries are operating at the lowest level on record, other than a few weeks in 2008 and 2005 when hurricanes ripped through the Gulf of Mexico and forced many to shut down. The slowdown in American refining comes as higher oil prices squeeze profit margins even tighter. Refineries like Valero Energy Corp. say they simply cannot pass along the higher crude costs to motorists.
(Excerpt) Read more at finance.yahoo.com ...
How can a nation so rich in energy be so dumb in policy?
Most UNEXPECTED!
If the oil companies refuse to refine gasoline, they can manipulate the supply and the price goes up. Why shouldn’t that be regarded as price fixing?
No new refineries since 1976 probably has something to do with it too! This is crazy.
Even though use is down, and there is an oil glut around the world, the advantages of shortages aren’t lost on producers, and it seems like that’s the way they are going. Remember those Jimmy Carter lines?
And I’d almost guarentee, because of this announcement, that gas prices will have already jacked up another 5 cents or so a gallon from this morning before I can get off work this afternoon and fill up my tank.
Unexpected, my ass. Are they using Obama math to keep track?
Or maybe the last little rant from Iranian leaders has something to do with the jump?
My brother works at the Exxon Baton Rouge refinery. He is on Seven 12’s now on a turn a round. The money is good, but all he does is sleep and go back to work. Maybe if some other states besides Louisiana built a refinery once in a while . . .
Gas right now is $2.37. This morning, driving into work, one station went from $2.37 yesterday evening to $2.59 this morning. I didn’t hesitate. Next gas station I came to, I filled up. $2.37.
Like the steel mills, they are on the short list to 'a thing of the past'.
The $ decision makers have spoken and refined product will be imported and introduced into our pipelines for distribution.
Why pay $38/hour when you can pay $38/week for workers in your Indian refinery.
Drill here! Drill now!
Let American owned and operated companies tap the Bakken.
I hope I can find it at $2.37 when I get off in another hour or so. It was $2.34 to $2.39 on my way in to work this morning. I’ll bet most of them have jumped by now.
They are, and have been since 2000. But without pipeline capacity, production is moot.
producers are cutting production. Valero claims they have been losing money...
It went up 10 cents per gallon over night from Friday to Saturday.
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