U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Weather > Hurricanes
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-30-2008, 10:26 AM
 
239 posts, read 651,687 times
Reputation: 67

Advertisements

if the u.s is hit by multiple hurricanes which right now it looks possible how high can the costs go?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 08-30-2008, 10:48 AM
 
Location: Venice Florida
1,380 posts, read 5,408,899 times
Reputation: 875
That really depend on how much we are willing to conserve and how much damage is done to the refinery's. The market has learned that $4 gas causes people to change their habits. And with the American consumer slowing down, the world is using less energy it's tough to push prices higher. I was shocked that the oil markets didn't go crazy bullish last week with the Russian/ Georgia conflict and the hurricanes predicted to go right thru the oil fields in the gulf.
If there is little infrastructure damage I'd guess that gas and oil prices will be stable or continue to decline.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-30-2008, 11:44 AM
 
239 posts, read 651,687 times
Reputation: 67
looking at the radar it seems the gulf is gonna get hammered.....i hope the priced decline it cost me 1100 bucks to fill up my semi last week.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-30-2008, 11:53 AM
 
4,465 posts, read 7,258,940 times
Reputation: 801
Per testimony before congress, 50% of the price of gasoline is caused by speculation. It's not supply/demand driven. We've had hurricanes since the pleistocene, and oil rigs in the Gulf since at least the 1940's. It's only been since market deregulation that we've seen this cat and mouse game with gas prices.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-30-2008, 12:15 PM
 
239 posts, read 651,687 times
Reputation: 67
with 2 confirmed storms and 2 in reserve the rigs won't be drilling and pumping for a while then add on the evacuations and stopping moving goods this could cause a temporary spike in my opinion...but if you sell plywood you are gonna rack up...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-30-2008, 12:39 PM
 
4,465 posts, read 7,258,940 times
Reputation: 801
Quote:
Originally Posted by southernmeltdown View Post
with 2 confirmed storms and 2 in reserve the rigs won't be drilling and pumping for a while then add on the evacuations and stopping moving goods this could cause a temporary spike in my opinion...but if you sell plywood you are gonna rack up...
.

Back when we had real competition in the market, and the corporations didn't own the governmnet, we used to mandate that enough supply would be in the system to cover temporary bumps like hurricanes.
Not that way now, though.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-31-2008, 09:11 PM
 
1,383 posts, read 3,151,465 times
Reputation: 1269
Quote:
Originally Posted by southernmeltdown View Post
if the u.s is hit by multiple hurricanes which right now it looks possible how high can the costs go?
I heard on the news here in Texas that it could go to $5 a gallon depending on how bad the hurricane is. All the oil rigs in the gulf have been shut down which will proably make prices go up. I sure hope not though

Last edited by $DFW8$; 08-31-2008 at 10:44 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-02-2008, 07:54 AM
 
Location: Venice Florida
1,380 posts, read 5,408,899 times
Reputation: 875
Well Gustav did not cause the havoc to the oil infrastructure that was feared. On that news the oil market is selling off. Oil has been off as much as 9$ a barrel and gasoline is down around .25cents today.
The dollar is strengthening against the euro and the pound. Today the commodity market is bearish.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Weather > Hurricanes
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top