Originally Posted by
Colnago
Hell, man, the lowest trade price of oil today was at $99.95, still going down.
Yes, oil still continues to trade low. Watch what happens to that if a refinery gets damaged. Nearly 45% of our refining capacity is on the gulf coast. That includes where jet A is refined. The only reason gas is trading low is because of natural gas hype and current elections. What happens when the election is over. I don't want to start a politics debate, but if J.M gets his way for "Drill baby Drill," the Middle East is going to run to the bank laughing because that would mean we have no alternative energy policy and we will continue to import oil even while drilling here in America.
They are saying that this storm could cause gas prices at the pump to reach levels we have never even tossed around before.