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Old 09-14-2019, 09:19 PM
 
12,202 posts, read 21,867,383 times
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5m barrels offline as of 09/13, doesn't look good for gas prices.

Looks like we may get that recession yet, with a large spike in gas prices.
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Old 09-14-2019, 09:25 PM
 
30,692 posts, read 47,892,190 times
Reputation: 16555
The Saudis have reserves in storage
No need to panic at this stage
But I am sure no matter what happens there will be excuse to raise gas prices and make additional profits all along the supply line...
That fire couldn’t made an effect on gasoline already refined from imported oil—
So why would price at the pumps go up already???
But probably it will...
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Old 09-14-2019, 09:34 PM
 
2,589 posts, read 1,493,736 times
Reputation: 5456
I thought I read it will be 48 hours down, shouldn't be a big deal. Maybe a short term bump up in prices but we are still in a oil glut. Now if there is escalation, that might be more substantial. We will see in the next week how to goes.
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Old Yesterday, 06:00 AM
 
5,743 posts, read 2,468,151 times
Reputation: 17101
For one, I'm pretty glad we started fracking in this country ten years ago. While it certainly doesn't make us immune to this kind of nonsense, it does insulate us from a lot of these shocks. Personally, I'm much more worried about that region going up in flames than I am on the cost of filling up my Toyota.
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Old Yesterday, 06:47 AM
 
Location: DFW - Coppell / Las Colinas
32,461 posts, read 37,164,775 times
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Can you imagine the affects to the economy if the current crop of Democrats actually were able to shut down offshore drilling and fracking putting us more dependent on SA oil ?

Recall the rationing and lines to buy gas back in the 1970"s?
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Old Yesterday, 07:12 AM
 
30,692 posts, read 47,892,190 times
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Quote:
Originally Posted by Rakin View Post
Can you imagine the affects to the economy if the current crop of Democrats actually were able to shut down offshore drilling and fracking putting us more dependent on SA oil ?

Recall the rationing and lines to buy gas back in the 1970"s?
That is so partisan
My husband worked in o/g production for more than 40 years==some offshore, more on land...
He has NO desire to make the US dependent on SA oil
Believe me-the o/g production companies can and should ensure safe practices to avoid polluting water, ensure their pipelines are safe, and have safe working platforms for employees...
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Old Yesterday, 07:14 AM
 
Location: western East Roman Empire
6,748 posts, read 10,811,810 times
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Quote:
Originally Posted by aridon View Post
I thought I read it will be 48 hours down, shouldn't be a big deal. Maybe a short term bump up in prices but we are still in a oil glut. Now if there is escalation, that might be more substantial. We will see in the next week how to goes.
Question in my mind is whether Saudis and allies feel compelled to respond in kind, say between tomorrow and the next 12 months.

There's also the possibility that attacks like these can be staged.

As a matter of historical observation, war is constant and good for somebody's business if contained.
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Old Yesterday, 07:37 AM
 
3,904 posts, read 3,240,683 times
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I will be interested to find out what kinds of drones these were and what their range and payload capacity are.
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Old Yesterday, 08:06 AM
 
18,895 posts, read 20,861,791 times
Reputation: 27899
Quote:
Originally Posted by loves2read View Post
The Saudis have reserves in storage
No need to panic at this stage
But I am sure no matter what happens there will be excuse to raise gas prices and make additional profits all along the supply line...
That fire couldn’t made an effect on gasoline already refined from imported oil—
So why would price at the pumps go up already???

But probably it will...
Why? Because they can.
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Old Yesterday, 08:10 AM
 
Location: Midwest
4,412 posts, read 7,253,449 times
Reputation: 7724
The effect SHOULD BE better detection and interception.
A counterstrike is very likely, if not inevitable.
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