<Physics in the Economy I: Physical Work The Oil Drum PESN: Update on Hurricane Katrina's Damage to the Gulf Oil Patch>

11 comments on Not just taxi drivers anymore

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Halfin on September 12, 2005 - 3:49pm Permalink | Subthread | Comments top
Well, this contradicts what your "insider" buddy was telling us last week about how the refiners weren't at fault, it was the evil and greedy distributors, the guys who drive the oil trucks and run the pipelines. I got the impression that oil companies were just in the business for love, and if they accidentally happened to make a penny or two of profit why then of course they would immediately donate it to the widows and orphans fund.

http://www.theoildrum.com/story/2005/9/7/83346/22387

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Dave Cohen on September 12, 2005 - 4:14pm Permalink | Subthread | Parent | Comments top
Apropos: from Rigzone today.
Crude oil futures in New York dropped more than $1 to below $63 a barrel Monday, amid concerns that high prices had begun to chip away at demand for oil and refined products....

"The aftereffect of the hurricane is working out to be a detriment to demand, and no one saw that coming," said Michael Guido, director of commodity strategy in New York for French bank Societe General.
Whatever it is vis-a-vis gasoline prices, it looks like it's in the refinery business ... and we'll what happens to gasoline prices in the next few weeks.
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Stuart Staniford on September 12, 2005 - 4:22pm Permalink | Subthread | Parent | Comments top
LOL :-)
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Dave Cohen on September 12, 2005 - 4:47pm Permalink | Subthread | Parent | Comments top
Second that. Will You Join Us?
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Dave Cohen on September 12, 2005 - 5:02pm Permalink | Subthread | Parent | Comments top
Ah, I forgot to tell you who "us" are. OK, I'm bitter -- so what?
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Yankee on September 12, 2005 - 5:44pm Permalink | Subthread | Parent | Comments top
Hey, Halfin, I could have...ahem...neglected to post this link, but I thought it more intellectually honest to put it out there. Personally, I don't know what to believe. In any case, last week we were talking about gouging, and whether there was anything illegal or unethical going on. This Dallas Morning News article says "Experts say it's not a matter of manipulation or gouging, but simple supply and demand." If true, then no matter what, it's STILL WRONG for Senators to get themselves in a tizzy and demand to know who's charging exorbitant prices at the pump. 'Cause maybe it really is just the market, and the consumer is actually to blame in this case.
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11 comments on Not just taxi drivers anymore

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