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Reply #1: It's not about the price per barrel right now... [View All]

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Spider Jerusalem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-13-05 07:22 AM
Response to Original message
1. It's not about the price per barrel right now...
Edited on Tue Sep-13-05 07:22 AM by Spider Jerusalem
and that doesn't specify WHICH crude, anyway...West Texas? North Slope? Brent? Gulf? That makes a bit of difference. And the refinery capacity on the Gulf coast that got knocked out by the hurricane, and the port of New Orleans being non-operational, probably have as much to do with high gas prioes as anything. Doesn't matter if oil's $30 a barrel...if there's not enough refining capacity to keep up with demand, then the market is going to determine the price of what is suddenly a scarcer resource.
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