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Originally Posted by Wing_Nut
About 52% of Gulf production is still shut in but demand destruction due to high prices has balanced the reduced supply. The result has been no shortage of supply with either petroleum or natural gas.
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Thanks for the price info everybody -- and for your insights, Wing_Nut. Glad to see someone calling a spade a spade regarding gouging by the oil companies.
It's pretty funny -- but some energy traders were quoted by Reuters today saying BP's Texas City 500,000 bpd refinery was closed due to hurricane Rita damage -- even though it's in Galveston -- which didn't get much damage at all. The fact is the place had a minor explosion months before Rita arrived -- but nobody bothers to get their stories straight.
Just filled with 2.77 premium at Costco -- so prices are continuing to drop.