When Hurricane Katrina hit, gas prices sky rocketed and still haven't gone down...will Hurricane Dean do the same?
It would not surprise me.
And the moron conspiracy theorists will somehow manage to blame Bush for starting the hurricane.
It will come as a shock to most Americans, but no presidential candidate -- nor any candidate, nor any local, state or federal government -- has developed a contingency plan in the event of a protracted oil cut-off. It is not even being discussed. Government has prepared for hurricanes, anthrax, terrorism, and every other disaster, but not the one threatened daily -- a protracted oil stoppage, whether caused by terrorism or Iranian intervention in the Persian Gulf.
It is like seeing a hurricane developing without a disaster plan or evacuation route. Our allies have oil shortage interruption contingency plans, but America does not.
The crude realities: America uses approximately 19 to 20 million barrels of oil per day, almost half of which is imported. If we lose just 1 million barrels per day, or suffer the type of damage sustained from Hurricane Katrina, the government will open the Strategic Petroleum Reserve, which offers a mere 6 to 8 week supply of unrefined crude oil. If we lose 1.5 million barrels per day, or approximately 7.5 percent, we will ask our allies in the 28-member International Energy Agency to open their SPRs and otherwise assist. If we lose 2 million barrels per day, or ten percent for a protracted period of time, government crisis monitors say the chaos will be so catastrophic they cannot even model it. One government oil crisis source told me hours ago, "We cannot put a price tag on it. If it happens, just cash in your 401k."
Juvenile discusses his feelings on the oil spill that surrounds his home state as well as his take on the arrest of the police officers who ...
Governments across the globe are worried that sustained unrest will escalate oil prices past $100 per barrel on their way to $120 or more, choking the struggling economic recovery in the United States, Europe, and elsewhere. A sustained $10 increase in oil prices would shave about two-tenths of a percentage point off economic growth, according to Dean Maki, chief United States economist at Barclays Capital....
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energy prices and profit Prior to Hurricane Katrina, increasing crude oil paces had resulted in rising ... The petroleum industry's performance is shaped by the interaction of ... |
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Oil and gas reserves on the outer continental shelf : hearing In 2005, Hurricanes Rita and Katrina caused massive spills of oil and other pollutants and seriously affected the production, refinery capacity, ... |
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Congressional Record, V. 151, Pt. 15, September 8 to September 22, 2005 The effects of Hurricane Katrina will be felt by the people of Louisiana. ... Now the oil industry claims that these higher prices are a result of ... |
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Congressional Record, V. 151, Pt. 17, October 7 to 26, 2005 for the cost of Hurricane Katrina and its aftermath through reductions in ... In a series of memos 10 years ago, the oil industry said that we have too much ... |
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Shuck the Sheiks, Replacing Bloody Middle Eastern Oil with Clean Domestic Ethanol Before Hurricane Katrina, the cost of a barrel of oil rose to over $70.00. Oil- industry analysts and experts lined up to tell us the same story: that they ... |
Calls Mount to Tap US Oil Reserves
Since it was established after the 1973-74 OPEC oil embargo, it has been used in only a few emergencies, like the buildup to the first Persian Gulf War in 1991 and the aftermath of Hurricane Katrina in 2005. President Clinton released oil in 2000 when
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Oil markets and Arab unrest: The price of fear
It is now at $3.38, after the biggest one-week increase since Hurricane Katrina in 2005. Even if the unrest leaves supply unaffected, significantly higher prices may be only a matter of time. The same dynamic that drove the oil price skyward in 2008 is
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WKBT News 8 - La Crosse, WIWhy Gas Prices Continue to Rise It's the biggest weekly rise the US has seen since September 2005, right after Hurricane Katrina hit. US crude oil prices hit $100 a barrel last week, the highest they've been since August 2008, and soaring prices you see at the pump are a direct |
Oil Prices May Disrupt Positive Auto Sales For The Industry
From above $100/barrel highs, US crude futures retreated but oil supplies from Mideast security remains to be an apprehension. Fuel prices reached $3.38/gallon last week. The last this had happened was in 2005 when Hurricane Katrina disturbed oil
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Car Makers Increase Focus on Green in the Face Of High Oil Prices
After Hurricane Katrina, when US gas prices reached $4 per gallon or more, people reassured themselves it was temporary. The spikes last summer were assumed to be just a worse version of the usual summer gas price increase. But as pump prices creep up
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