Sunday, August 28, 2005

Hurricanes and Gas Prices

This is a heads up to anyone I missed with my recent email.

Approximately 1/4 of US domestic oil production comes from platforms off the Louisiana coast.

Approximately 1/6 of foreign oil to the US comes in through Port Fourchon, near New Orleans.

There are important refineries in the Port Fourchon-New Orleans area, and I don't need to remind you that oil has to be refined before we can use it.

I also don't need to remind anyone that our economy is based on supply vs demand.

So if you think gas prices have been high lately, just wait and see what Katrina has in store for us. Unless something changes fast, the supply side of the oil equation is about to take a hit.

If you want to save a few bucks, go top off your gas tank today, no matter where you live, no matter what today's price. If you can take care of a few errands today so you'll drive less tomorrow, don't wait. Also consider that most of our goods get to us by truck, so this would be a good time to stock up on commonly used non-perishables. Some experts are predicting as much as a month of oil supply disruption if Katrina stays on course, so beat the possibly higher prices to come and buy now.

And most important, please don't forget to say a prayer for the good people of New Orleans!


nancytoby said...

Good post. Thanks for the updates - we're keeping our fingers crossed and hoping for the best, and we'll sure be watching the news overnight!

Chris said...

Heh. Seeing as this was posted last weekend, you couldn't have been more right on!

Wil said...

Boy, did you ever nail it - gas around here was around $3.40 a gallon!