<Sunday night/Monday morning Open Thread...The Oil DrumKatrina on Monday morning>

37 comments on Oil at $70, NG close to $12 on NYMEX in Sunday pre-market

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Donal on August 28, 2005 - 5:36pm Permalink | Subthread | Parent | Comments top
Y'know, we even heard the Weather Channel guys describing the danger to the oil rigs, etc. and advising people to fill up tonight before the prices rise tomorrow.  I got an email from my wife:

"Jane was there and Tammy and Gary were going out the door.  They were on their way to get their gas tanks filled.  Jane had hers filled.   On my way home, I thought about how hurried Tammy and Gary seemed to get to the gas station and thought ... it's beginning."

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baloghblog on August 28, 2005 - 5:43pm Permalink | Subthread | Parent | Comments top
wife and I did the same tonight. Told parents and friends as well,  Most laughed it off.  I told them that I was serious.

Feel better with a full tank, but I have to imagine that there is a week or two lag in the transportation of gasoline to buffer supply.  Am I wrong?  How long does it take the imported refined gas or new refined gas to make it to the pump?

Obviously price would shoot up, but when would true decreases in supply be felt after a disruption like this could be?

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