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148 Comments
- TSK05, on 09/01/2008, -0/+42Yay for speculation, the #1 cause of oil prices rising!
- inactive, on 08/31/2008, -11/+50Articles like this will definitely cause people to go out and by more gas and buy virtue of supply and demand the price will of course go down. Duh.
- inactive, on 09/01/2008, -5/+31......I'm a little confused by your logic. If more people are buying gas (higher demand and lower supply) then wouldn't the price of gas rise?
...duh? - nerddtvg, on 09/01/2008, -0/+23When you say "strengthening" do you mean "weakening"? Last I checked, it's weakened from a Category 3 to a Category 2 and is predicted to only weaken further.
- acrodev, on 09/01/2008, -0/+18Don't buy gas if you're looking for a good investment, buy an oil company.
- inactive, on 09/01/2008, -0/+17/sarcasm
- Hawker400, on 09/01/2008, -4/+20Gustav. I'm a dumb ass.
- AmyVernon, on 09/01/2008, -4/+19the day after Katrina hit three years ago, gas went up $1 a gallon overnight.
- DaviDTC, on 09/01/2008, -0/+15Inaccurate. Oil has dropped over $4 today.
- badfrog, on 09/01/2008, -1/+14Oil is down today because Gustav has weakened. Article is already out of date, stop the hysteria!
http://biz.yahoo.com/ap/080901/oil_prices.html - ieee, on 09/01/2008, -0/+11Just in time for the election.
- cl2yp71c, on 09/01/2008, -2/+13F### you, terrorist.
- duggynyc, on 09/01/2008, -0/+11Don't believe the drivel. Crude oil is down 4 bucks as we speak.
- BladeArrowney, on 09/01/2008, -0/+9rofl, this is bs...
http://www.bloomberg.com/energy/
http://afp.google.com/article/ALeqM5isagNKh7w-IVMJ ... - Hawker400, on 08/31/2008, -6/+15Would you rather pay $3.50 today or $4.25 next week?
- BradBrown, on 09/01/2008, -0/+9Look, I don't like to give out advice, but my advice is to panic and fill your tank now. Buy some bread as well, in case you get stuck inside your house and you want samiches.
- jawdroppingjack, on 09/01/2008, -0/+8gustav downgraded to a cat 2....oil prices are dropping according to forbes...
- inactive, on 09/01/2008, -18/+25It's Bush's fault. If he wasn't president, John Kerry could stop these storms with his long face.
- HappyScrappy, on 09/01/2008, -0/+7You're about 10 years too late. In areas like San Francisco companies that make BioDiesel already are paying restaurants for their waste grease.. So you can't just go take it, you'll be prosecuted for stealing.
Additionally, restaurant grease is not BioDiesel (instead people call it Waste Vegetable Oil or WVO). You can turn WVO into BioDiesel with a reactor and do it fairly cheaply. But if you just put WVO into your engine you will destroy it eventually. Because WVO is too thick and doesn't have enough lubricity. So this stuff like that band is doing is actually a very bad idea.
Read this link for invo on how WVO is not a good idea.
http://www.autobloggreen.com/2007/08/21/tdiclub-me ... - accn112, on 09/01/2008, -0/+7I would LOVE to pay 3.50 today, I haven't paid 3.50 in over 3/4 of a year
- TSK05, on 09/01/2008, -1/+8Why do you think demand increases? Because you speculate that the prices are going up so people stock up.
- thepoliticalcat, on 09/01/2008, -3/+9Such wit. Such wisdom. Or, you know, not.
As I stated in my piece on the Republican push for offshore drilling, we're currently low on refinery capacity because the refineries destroyed by Katrina were never rebuilt: http://kalimao.blogspot.com/2008/06/environment-ch ...
With 103% refinery capacity, any slight mishap will impact gas prices. And here we have our mishap. Oh, but I forget the Republican excuse: Nobody could have predicted ... except everyone did, yaknow. - arjie, on 09/01/2008, -0/+5I hate your freedom to self-censor!
- bosssmiley, on 09/01/2008, -3/+8The Deep Ones will take their inexorable revenge upon the foolish oil-drilling land-dwellers of the Gulf Coast. Katrina and Gustav were just the beginning. Prepare for Hurricane Cthulhu!
- schnikies79, on 09/01/2008, -0/+5It's articles like this that make the price go up!
Panic by the MSM and others -> people rushing to fill their tank -> demand skyrockets -> price goes up.
BTW, oil prices are down. - ReeferChiefer42, on 09/01/2008, -1/+6Except for the price of oil is determined by speculators as it is a commodity traded on the free market, and they don't give a ***** about supply/demand, at least not as much as they should.
- cptshamrock, on 09/01/2008, -0/+4Inaccurate, Gustav now Cat 2
- Cwolf267, on 09/01/2008, -0/+4This headlines flat out false, the hurricane is becoming weaker.
- magic6435, on 09/01/2008, -0/+4Gustov has been losing strength for 2 days now.......
- awarnick, on 09/01/2008, -2/+6Here comes the flooding.. again.
- Vibratic, on 09/01/2008, -0/+4So telling everyone to freak out and buy gas right now won't make the prices go up? The hurricane will?
Does the author realize the gas prices went up last time because everyone filled their cars up in anticipation? - Charlotte_Web, on 09/01/2008, -0/+3"Crude oil fell, reversing earlier gains, after Hurricane Gustav weakened, easing concern of widespread damage to drilling rigs and refineries. "
http://www.bloomberg.com/apps/news?pid=20601087&si ... - awhiteflame, on 09/01/2008, -3/+6Unfortunately, gas prices aren't affected by supply and demand. They are affected by, in no particular order: greed, inflation, speculation, futures and government (as of late).
So yes, that's exactly it. People will come on Bloomberg and CNN Money and CNBC and say, "Good heavens! With Hurricane Hannah, we're going to lose (some extravagant amount of money based on old figures for spans of time much longer than would be required to repair an oil facility damaged by a hurricane)!!". And then the investors flip out, and the futures skyrocket. Seeing the futures skyrocket, the demand artificially is raised well above any recognisable or calculable sense.
Globalisation is fun! - inactive, on 09/01/2008, -0/+3Don't believe anything of what you read. Disaster sells papers and advertising, of course they'll put up worst case scenario.
- synapzgap, on 09/01/2008, -0/+3Seems strange to me that the last half of these comments are calling BS on this article, yet somehow it's getting Dugg.
Bury this ***** people! It's alarmist and inaccurate. - webster, on 09/01/2008, -2/+5Don't worry, I'll just use dianetics.
- mV0G7, on 09/01/2008, -2/+5***** the hurricane excuse for rising gas prices. I don't care how much damage it causes, unless a refinery is completely obliterated, gas prices shouldn't rise by an entire dollar.
Think about it, with 300,000,000 people living in the United States, even a ten cent increase on gas per gallon is a massive increase when we're talking about profits.
If Gustav raises prices back to $4, what are they going to do when soon-to-be Hurricane Hannah hits land? Raise it to $5 a gallon? - jreinstedler, on 09/01/2008, -0/+3WRONG - Oil has dropped 4$ a barrel today as there was no impact to our infrastructure. BURIED FOR INACCURACY.
- Kolbeck10, on 09/01/2008, -0/+3I don't think this is directed towards people within the storm's path, but rather everyone else in the nation....
- crashbang, on 09/01/2008, -1/+4But if someone tries to steal my retirement grease, I'll ***** THEM UP!!!
- JPJones, on 09/01/2008, -0/+3Buried for being alarmist.
- TheDarkTemplar, on 09/01/2008, -0/+3Its headlines like this that drive up oil prices! Besides, as of 2:47 PM EST Limited commodities trading (no trading on the floor all electronic) has oil down $4+ hovering around $111 area.
- ecahoon, on 09/01/2008, -0/+3Oil is down $4 at this moment. Where was the author getting his/her information??
- cuoops, on 09/01/2008, -0/+2Umm, I was just watching the news. The price is down $4 right now.
- Depthfunction, on 09/01/2008, -0/+2Wait a minute. I'm confused. The "drill here, drill now" crowd have been arguing that oil platforms are never ever EVER harmed by even the most powerful hurricanes and so we should double or even triple the number of platforms in the Gulf of Mexico because there won't be any danger at all. But now I'm hearing about possible damage to these indestructible platforms. The pro-drilling, pro-oil advocates wouldn't LIE to us, would they????
- inactive, on 09/01/2008, -0/+2Lame. Oil is down over 4.50 to under 111 a barrel. buried.
- Malarie, on 09/01/2008, -0/+2Who the Hell is Gustov??
- zmigliozzi, on 09/01/2008, -0/+2Scare tactic title, wooo! I wonder how much dailyfueleconomytip.com is getting paid by oil companies.
- Pantzaroff, on 09/01/2008, -4/+6Christ you people take everything as serious?
I'm in Louisiana now, there's not much of a storm effect going on. It hit as a category 2. While you might see prices jump a bit in a week, WE didn't see prices being gouged despite many places running out of gas. An hour north of where I live(I live an hour from the coast), there are little to no changes in prices. Just sit tight and don't worry. - inactive, on 09/01/2008, -0/+2It's coming to Galveston?!
I live in Houston and it's sunny with no wind outside.... BS article? -
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