THE AM I FIT TO BE PRESIDENT QUIZ:
A hurricane bears down on the oil producing gulf of Mexico. So far, 500,000 bbls of oil production per day has been shut down. It could go as high as a million bbls. per day. As president you would:
(a) Announce that you will release from the Strategic Reserves an amount per day equal to the amount lost so that energy prices won't go to the moon.
(b) Give a speech about Iraq
(c) Give a speech about the awful terrorists
If you answered (a) you don't get to be president
If you answered (b) or (c) you get to be president and know that you will prepare a speech about the damage to New Orleans and that ten billion dollars in Federal money will be spent. The Strategic Reserves are not on the table.
The White House is totally brain dead. If we took Iraq completely off the table, Bush would still be awful. FYI there are fifteen refineries of various capacities on the gulf COAST. There are twenty more within 200 miles of the coast in Mississippi, Louisiana, and Texas. It looks like as many as twenty refineries could be threatened, but only three or four of the twenty would be hit by the hurricane. It is unlikely that any refineries will be down for more than a few days; loss of electric power might shut down a few more.
8/28/2005
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2 comments:
I guess if the refineries are destroyed it won't make a damn bit of difference about less than 1/10 of our total unrefined oil requirements being shut down for a week or two...will it? It won't make much difference what Bush does with the reserves either....will it? You're barking up the wrong bush. Ask yourself why the "pundits" are telling us to look for another 30 cent hike in gas prices with so little of our requirements actually being threatened.
That's not the point. All these markets are moved by information, lots of oil available releases some of the speculation pressure. It is unlikely as hell that we will lose much, if any, refinery capacity.....
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