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NEW YORK (Fortune) -- While Congress and Bush administration officials have been working to complete a bailout plan and stem the financial contagion on Wall Street, a different kind of economic crisis emerged across the South this week: A severe, hurricane-related gasoline shortage has curtailed trucking from Atlanta to Asheville, N.C., and created a wave of panic buying among motorists.
The return of gas lines has largely flown under the radar of politicians who are usually keenly attuned, because their constituents are, to what's going on at the pump. But more of the Capitol gang should be paying attention to this.
That's the best article I have seen so far, as far as explaining this mess goes. I am in the Greenville SC area (between Asheville & Atlanta) and while we have not totally run out like Asheville this week, there are lots of empty pumps at stations.
I am from Greenville, SC as Kimmie is. Last night I went to 4 stations in my town at 930pm and all were out. This morning 3 of them had gas and one was limiting purchases to $50 and another to $40 limits. I think that limit is too high given the circumstances this area has been facing. It's been 2 weeks since Ike hit but we are still experiencing limited supplies. Come on people, I was on E last night and hubby had to get someone else to drive him to work today. If you don't need it stay away from the pumps. Our price is high because of the low supplies but as soon as it starts flowing regularly again the price will come down. I paid $3.76 and $3.85 to get some gas today in 2 cars, but some stations are charging closer to $4/gal now.
This is funny because both the politicians and the public tend not to understand the real problem - price fixing. When you fix prices the end result is always shortages.
If anybody tries to raise the gas prices to their true price its "price gouging" and the politicians start ranking about the oil companies and talking about investigations.
Raise the price to $6/gallon and I bet the shortage ends.
This is funny because both the politicians and the public tend not to understand the real problem - price fixing. When you fix prices the end result is always shortages.
If anybody tries to raise the gas prices to their true price its "price gouging" and the politicians start ranking about the oil companies and talking about investigations.
Raise the price to $6/gallon and I bet the shortage ends.
110% correct.
Not everyone will drive across town for a pedicure, haircut, or happy hour with gas prices that high. More supply for those who need it.
This happened a back during Katrina in Atlanta, and we came out of it. THE SAME THING! People panicked because they thought we weren't going to have enough gas. We had a good 2 weeks worth then. So, people went to the stations and started hoarding like idiots. THIS caused gas shortages.
Same thing now: we had 2 weeks worth, but people hoarded when the media said that they'd shut down a pump in Texas. Now, the pump is about to come back on, and supplies will return to normal.
We've been saying this for a long time now, but it still hasn't died. I remember when it was just hitting $1/gal here, they said "end of suburbia?" $2 same thing. $3, $4, same thing. They said it in the 70's, too. In the 70's people didn't move closer to their work [in the cities], the cities/job centers moved closer to them! That's why Atlanta, a heavily sprawled out, urban-everywhere type of area, is like that. That's why our suburbs have skylines!
I don't do documentaries, but probably around 2012-2014 you'll see a mass exodus to the city.
As Cost Inflation and the recession drags on through that period people will move into the cities to take advantage of the cheaper housing (initially but then prices will rise) and to have greater access to entertainment and retail venues as well as public services.
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