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REPORT ABUSIVE REPLY
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Message Subject
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Nationwide gas prices sky rocketing since Biden elected
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Poster Handle
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Anonymous Coward |
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Post Content
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Take 4 million barrels per day of oil production off line in Texas and Oklahoma because of cold weather plus refinery shutdowns because of both cold weather and a lack of crude and what do you expect?
Sorry Biden had nothing to do with it. Supply /Demand was the cause, specifically a lack of supply of crude oil.
Not every price swing in the markets is caused by politics ... sometimes it is Adam Smith at work.
Quoting: Anonymous Coward 79096761 No, there are reserves at the refineries that flatten the supply spikes. This reaction is definitely political. Some of the largest oil refineries in the U.S. were forced to shut down Monday as a historic Arctic freeze upended energy markets and led to widespread power blackouts across Texas. The largest oil refinery in the country, Motiva Enterprises, said freezing temperatures were behind the decision to “safely and methodically” pause operations in Port Arthur, Texas. and: Reuters reported that Marathon Petroleum also halted operations at their Texas refineries Monday. Marathon Petroleum spokesperson Jamal Kheiry declined to comment on the Galveston Bay Refinery, which produces 585,000 barrels of oil per day. (my comment: Marathon Petroleum is the largest refiner in the United States with MULTIPLE refineries in Texas)
and: Citgo Petroleum said it also shut down “some units” at its Corpus Christi, Texas, refinery because of “third party interruptions” caused by the weather. [ link to www.forbes.com (secure)] and: Restarting Texas’ Damaged Oil Refineries Is Going to Take Weeks [ link to www.bloomberg.com (secure)] and: Biggest Oil Refineries in U.S. Are Going Dark Amid the Cold The largest refineries in North America were shutting down Monday because of arctic conditions that have cut electricity, water and fuel supplies across Texas. More than 3 million barrels of daily oil-processing capacity has been idled in the wake of the record-setting cold, according to consultant Energy Aspects Ltd. [ link to finance.yahoo.com (secure)] You may be in Texas but you don't seem to know or follow the oil industry very well.
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