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Old 08-28-2005, 08:33 AM   #1
dready
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One third of America's oil supply comes from the Gulf area

This is going affect fuel prices big time.
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Old 08-28-2005, 08:37 AM   #2
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The price of oil went up $12 per barrel after hurricane Ivan.

http://www.energybulletin.net/2875.html
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Old 08-28-2005, 08:38 AM   #3
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this hurricane was created by the TERRORISTS!
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Old 08-28-2005, 08:38 AM   #4
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only 20 of the 250 oil rigs outside of NO have stopped operations a few of them evacuated there workers but the rigs run themself
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Old 08-28-2005, 08:48 AM   #5
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Your info is innaccurate. The offshore wells only produce about 1.2 mil barrels a day. There are 4,000 well structures and 33,000 miles of pipelines in the Gulf region. Hurricane Ivan destroyed 7 offshore platforms and did major damage to 6 others. These structures are built for storms. The US produces about 8 to 9 million barrels per day. Our consumption is about 21 million barrels per day which equates to about 882 million gallons per day. So the entire gulf produces about 12% of our daily consumption needs, not 1/3rd.

Futures traders already had jacked the price up based on this storm entering the gulf.
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Old 08-28-2005, 08:51 AM   #6
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Quote:
Originally Posted by KRL
Your info is innaccurate. The offshore wells only produce about 1.2 mil barrels a day. There are 4,000 well structures and 33,000 miles of pipelines in the Gulf region. Hurricane Ivan destroyed 7 offshore platforms and did major damage to 6 others. These structures are built for storms. The US produces about 8 to 9 million barrels per day. Our consumption is about 21 million barrels per day which equates to about 882 million gallons per day. So the entire gulf produces about 12% of our daily consumption needs, not 1/3rd.

Futures traders already had jacked the price up based on this storm entering the gulf.

Your stats may be more accurate... I was quoting what the governor of Louisianna just said on CNN. Yet that energybulletin.net article still points to the fact that Ivan was largely responsible for a $12 a barrel increase in price.
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Old 08-28-2005, 08:54 AM   #7
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Bottom line is the stock market is going to drop like a rock tomorrow morning regardless of whos stats are correct.
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Old 08-28-2005, 09:05 AM   #8
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I think that the US should " liberate " New Orleans and Louisiana....

After all, those are two " frenchie " names .....
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