Houston Refining Industry at a Standstill

[tybee204]

Read Here (http://news.yahoo.com/s/ap/20050923/ap_on_bi_ge/rita_refineries_hk3_15;_ylt=AqCrWXfFng6JftEowdpZ.. QbLisB;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl)

DALLAS - Drivers, homeowners, airlines and businesses will end up paying higher fuel bills if Hurricane Rita magnifies the damage last month's Hurricane Katrina inflicted on the oil-refining industry.
Most of the refineries on the Texas and Louisiana coasts were shut down Thursday, and oil and natural gas rigs stood empty on the Gulf of Mexico as Rita bore down on the heart of the nation's energy industry.

Ken Stern, managing director of FTI Consulting, which advises refineries on business strategy, predicted $4 a gallon at the pump for gasoline within two weeks.

Story at link

[tybee204]

Rita's long-term impact on US oil unknown

NEW YORK (Reuters) - The worst case scenario for U.S. oil and gas infrastructure after Hurricane Rita reaches land could have gasoline supplies strained further than they already are and prices reaching record levels, some analysts said on Thursday.
Other analysts say prices have the "Rita effect" built in and that once the storm clears land, refineries will come back, imports will start to arrive and prices will decline.

But until Hurricane Rita reaches land, the impact it has on U.S. Gulf Coast energy infrastructure and on the price of gasoline and heating oil remains a wildcard.

Red here (http://news.yahoo.com/s/nm/20050923/bs_nm/rita_energy_oil_dc;_ylt=AkJ8jNS6JytzU9h8SkjcL0Rv24 cA;_ylu=X3oDMTA4MHNjNWZuBHNlYwMxNjk0)

[deanws]

Rita's long-term impact on US oil unknown

NEW YORK (Reuters) - The worst case scenario for U.S. oil and gas infrastructure after Hurricane Rita reaches land could have gasoline supplies strained further than they already are and prices reaching record levels, some analysts said on Thursday.
Other analysts say prices have the "Rita effect" built in and that once the storm clears land, refineries will come back, imports will start to arrive and prices will decline.

But until Hurricane Rita reaches land, the impact it has on U.S. Gulf Coast energy infrastructure and on the price of gasoline and heating oil remains a wildcard.

Red here (http://news.yahoo.com/s/nm/20050923/bs_nm/rita_energy_oil_dc;_ylt=AkJ8jNS6JytzU9h8SkjcL0Rv24 cA;_ylu=X3oDMTA4MHNjNWZuBHNlYwMxNjk0)A wildcard in a game that I am sure we all wish not to play. :(

[tybee204]

Rita could equal $5 gas

The timing and strength of the latest storm could cause worse spike at the pumps than Katrina did.
September 22, 2005: 3:49 PM EDT
By Chris Isidore, CNN/Money senior writer

NEW YORK (CNN/Money) - Remember when gas spiked to $3-plus a gallon after Hurricane Katrina? By this time next week, that could seem like the good old days.

Weather and energy experts say that as bad as Hurricane Katrina hit the nation's supply of gasoline, Hurricane Rita could be worse.

Katrina damage was focused on offshore oil platforms and ports. Now the greater risk is to oil-refinery capacity, especially if Rita slams into Houston, Galveston and Port Arthur, Texas.

"We could be looking at gasoline lines and $4 gas, maybe even $5 gas, if this thing does the worst it could do," said energy analyst Peter Beutel of Cameron Hanover. "This storm is in the wrong place. And it's absolutely at the wrong time," said Beutel.

http://money.cnn.com/2005/09/22/news/economy/rita_threat/index.htm?cnn=yes