Oil's energy contribution has declined by about 12% since 1999. The world's economies have also declined by about 12%. (Using conventional metrics, which are time delayed determinations, this will only be seen in hind sight). The massive destruction of asset values now occurring testifies to it happening.
Peak is well behind us, world economies have peaked and will continue to decline.
Posted: Thu Sep 25, 2008 10:34 am Post subject: Re: North American Fuel Shortage Reports
EA says no need to send emergency gasoline to U.S. because the market will take care of it:
Quote:
By Tom Doggett WASHINGTON (Reuters) - Even though U.S. gasoline inventories are the lowest since 1967 because of disruptions caused by the recent hurricanes, the head of the International Energy Agency said on Thursday there still was no need for IEA members to release emergency fuel supplies to the U.S. market. "We don't have to mobilize," IEA Executive Director Nobuo Tanaka told Reuters in an interview. "The market is now taking care of the current situation," he said. Tanaka said the U.S. Energy Department had not asked the IEA to release fuel supplies in response to the four-decade low in U.S. inventories. Energy Secretary Sam Bodman confirmed as much on Thursday, saying the U.S. supply crunch will ease over time. "We have consulted very closely with the Department of Energy on the current situation," Tanaka said, adding that the U.S. oil industry was "much better prepared" to handle the supply disruption caused by hurricanes Gustav and Ike than it was when Hurricane Katrina hit three years ago.
link
There you have it, nothing to worry pals, the Market will come to the rescue!! _________________ Stocking up on popcorn
Posted: Thu Sep 25, 2008 11:46 am Post subject: Re: North American Fuel Shortage Reports
eXpat wrote:
EA says no need to send emergency gasoline to U.S. because the market will take care of it:
Quote:
By Tom Doggett WASHINGTON (Reuters) - Even though U.S. gasoline inventories are the lowest since 1967 because of disruptions caused by the recent hurricanes, the head of the International Energy Agency said on Thursday there still was no need for IEA members to release emergency fuel supplies to the U.S. market. "We don't have to mobilize," IEA Executive Director Nobuo Tanaka told Reuters in an interview. "The market is now taking care of the current situation," he said. Tanaka said the U.S. Energy Department had not asked the IEA to release fuel supplies in response to the four-decade low in U.S. inventories. Energy Secretary Sam Bodman confirmed as much on Thursday, saying the U.S. supply crunch will ease over time. "We have consulted very closely with the Department of Energy on the current situation," Tanaka said, adding that the U.S. oil industry was "much better prepared" to handle the supply disruption caused by hurricanes Gustav and Ike than it was when Hurricane Katrina hit three years ago.
link
There you have it, nothing to worry pals, the Market will come to the rescue!!
So thats all it took huh? two hurricanes and a few weeks of supply disruption to bring our reserves to these lows. _________________ Tired of high gas prices? Then stop driving to work, duh..... Learn to Work from home
Joined: Apr 06, 2006 Posts: 3626 Location: 3 miles NW of Champoeg, Republic of Cascadia
Posted: Thu Sep 25, 2008 12:00 pm Post subject: Re: North American Fuel Shortage Reports
Hey Roy, dunno if this will be of help but here goes: Where to find gas locally, from blueridgenow.com. Chat room would be the real way to keep tabs on the situation though - or CB. Or Ham.
"I have to seek out gas… plan it into my schedule," said realtor Chris Ballard
As a realtor, Chris Ballard said his car is his office. He said he uses two to three tanks of gas a week showing homes. He said he needs gas to keep his office running.
"It's a little frightening, every five or six stations have gas. I have to stop two to time times or my business is lost," said Ballard.
Florist Francis Queeley delivers fresh blooms from Alpharetta to Marietta. She said as long as there's gas she'll deliver but with a higher delivery charge.
"At first customers complained when it went from $10 to $20, but they accept it," said Francis Queeley.
One produce stand has been at the corner of a gas station for ten years. When the station ran out of gas a few days ago, business dropped off dramatically.
"People would buy gas and a plum or gas and a melon," said Paul Singleton of Raymond's Fresh Produce. "Business is down 40 to 50 percent.
Wasn't someone saying peak oil would be a transparent switch in the markets or something? Imagine this as the normal state of affairs months on end, and the impact it would have on GDP. People would lose all confidence in being able to buy gasoline on vacations, for instance; they'd be paying so much extra for commodities in all likelihood they wouldn't have the money to take a trip in the first place. _________________ Cogito, ergo non satis bibivi
C'mon man, who're you gonna believe?
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Thu Sep 25, 2008 3:21 pm Post subject: Re: North American Fuel Shortage Reports
Even though the gasoline shortage is specifically traced to non-low supplies from the Colonial Pipeline, people still don't see to grasp that the shortage is not just about "panic" - nor will it 'recover in one week'.
Quote:
September 25, 2008
Empty gas tanks: Motorists scramble to find fuel as stations run out
Dee Henry
Hickory Daily Record, N.C.
Sep. 25--HICKORY -- Miranda Smith drove from her house in Morganton to Hickory on Wednesday searching for gas.
Smith found gas at the Raceway station on U.S. 321.
"But I had clinicals at Frye (Regional Medical Center) today, so it wasn't that bad of a search," said the Western Piedmont Community College nursing student.
Catawba County, like most of western North Carolina, is experiencing gas shortages.
Gasoline shortages will continue in the area for at least another week, and drivers should conserve fuel, officials said. Shortages were reported throughout the state Wednesday, forcing some stations to operate with a limited supply or post "Out of Gas" signs.
The Colonial Pipeline is the main source of East Coast gasoline supplies that were reduced after Hurricane Ike closed oil refineries on the Gulf Coast -- an area that accounts for about 20 percent of the nation's gas and diesel production.
Analysts say gasoline shortages across the Southeast should disappear in the next week, once Gulf Coast refineries resume normal production levels.
Raceway benefits from having its own gas terminal in Charlotte that delivers only to Raceway stations every day, employee Zorawar Singh said.
"We've had gas every day," he said, "But today, it looks like we will run out."
Singh predicted the tanks would run dry around 4 p.m. Wednesday.
Demand is the key behind the shortage of fuel, according to one local distributor.
"I hate to say it, but the media created a scare and everybody went and filled up and depleted the inventory," said David Bumgarner, vice president of Bumgarner Oil Co. on Highland Avenue, NE. "It's called panic buying."
The good news is, Bumgarner said, the market will stabilize probably within one or two weeks. He also said he doesn't think gas prices will show an increase any time soon.
Gasoline Shortages Won't Last a Month, Bodman Says
By Tina Seeley
Sept. 25 (Bloomberg) -- Spot shortages of gasoline in the U.S. in the aftermath of hurricanes Gustav and Ike shouldn't last a month, Energy Secretary Samuel Bodman said.
The U.S. experienced gasoline shortages for about a month after hurricanes Katrina and Rita hit the Gulf of Mexico region in 2005, Bodman told reporters today in McLean, Virginia.
``I would think it would be a shorter time,'' to recover from Gustav and Ike, he said. Bodman said several refineries in Texas and Louisiana should resume operations by either this weekend or next week.
The storms shutdown about 20 percent of U.S. refining capacity. Five refineries in the region are still idled, the department said in a report posted yesterday.
Bodman also said there were no pending requests to release oil from the U.S. Strategic Petroleum Reserve. The department has released almost 3.3 million barrels to refiners that faced supply disruptions because of the storms.
Joined: Feb 02, 2006 Posts: 10 Location: Nashville, TN
Posted: Thu Sep 25, 2008 3:32 pm Post subject: Re: North American Fuel Shortage Reports
burtonridr wrote:
spgarbet wrote:
burtonridr wrote:
So thats all it took huh? two hurricanes and a few weeks of supply disruption to bring our reserves to these lows.
No it was all that panic buying that caused it--haven't you heard?
You're joking right?
Yes. But this is what is being fed to the masses as the cause of the problem. What's worse, is I've heard people repeating this drivel as gospel. Panic buying may make the problem worse, but not by anywhere near the full scope of the problem.
I think burtonridr hits the nail on the head in his presentation of the problem, 2 hurricanes a a few weeks of supply disruption is all it took. This is how close we are on supply side. I don't have any statistics at hand, but I'm sure that hurricanes have plowed through the gulf before and shut down refining before-- but I don't know of any incident shutting down supply like this before (other than the 70's-- which wasn't a hurricane related issue).
Now THAT is just nuts, in my county the varied townships mostly have an emergency supply for snow removal crews/fire/police/ambulance just in case the regular is unavailible dues to weather or other effects. _________________ Always appeal to a man's enlightened self interest, you can trust him to look out for himself honestly, It's when you appeal to his Honor or the Common Good that he stops paying attention.
Posted: Thu Sep 25, 2008 9:42 pm Post subject: Re: North American Fuel Shortage Reports
Panic buying reported in southeastern United States:
Quote:
Gasoline shortages hit towns across the southeastern United States this week, sparking panic buying, long lines and high prices at stations from the small towns of northeast Alabama to Charlotte, N.C., in the wake of Hurricanes Gustav and Ike.
In Atlanta, half of the gasoline stations were closed, according to AAA, which said the supply disruptions had taken place along two major petroleum product pipelines that have operated well below capacity since the hurricanes knocked offshore oil production and several refineries out of service along the Gulf of Mexico.
Motorists in Charlotte reported lines with as many as 60 cars waiting to fill up late Wednesday night and a community college in Asheville, N.C., where most of the 25,000 students commute, canceled classes and closed down Wednesday afternoon for the rest of the week. Shortages also hit Nashville, Knoxville and Spartanburg, S.C., AAA said.
Terrance Bragg, a chef in Charlotte, made it to work only because his grandfather drove from a town an hour away with a 5-gallon plastic container of fuel for him. Three of his co-workers called and said they couldn't make it.
"I drove past nine or ten gasoline stations that were out of gas," Bragg said. "I had my GPS up looking for any gas in the area, from the mom-and-pop places to the corporate gas stations. Nothing. They were all taped off."
And this is just madness:
Quote:
"It was crazy," Tyson said. "People were standing on side of road with gas cans saying they'd pay the person to run a [credit] card through just to get gas so they didn't run out before they got up to the pump themselves."
By SCOTT BAUGHMAN
Daily Courier Staff Writer
FOREST CITY — Gasoline was still a precious commodity in Rutherford County on Thursday with some stations hoping to get a fuel delivery by today.
But one local distributor is expecting things to take a while to get back to normal.
“ We have begun to put stations on a waiting list,” say Ray Thomas, owner of Ray Thomas Distributors in Shelby. “ We have some waiting three or four days right now.”
Thomas, whose company handles fuel deliveries for many of Rutherford County’s stations, said the problem can be traced back to recent hurricanes in the Gulf of Mexico and a limited supply line.
“ We’re getting about 22 percent of capacity out of the pipeline right now,” Thomas said. “ We’re hoping Friday or Saturday the pipelines will come back to full stream. But even if it was at 100 percent, it is so critical right now that it would take 10 days before people would get their gas regularly. It was mainly due to Hurricane Gustav and the oil companies were telling us it was worse then than with Katrina. And then Ike came through. Once the refineries are back up and going, it takes seven to ten days to get the pipeline refilled.”
Distributors have started to use different supply tactics to get around the bottleneck.
“I’ve been in this business for 38 years and this is the worst I’ve ever seen it,” Thomas said. “About 65 percent of all our product in this area comes through the Colonial and Plantation pipelines. We’re so dependent on the pipelines and they’re just a trickle right now. We’ve been sending some trucks to Charleston, S.C.
to get product from the port — but that’s maybe two tanker truck loads a day. We’re getting about 7,500 gallons a truck in Charleston.”
Around the county, many stations were completely out of gasoline.
Based on the charts I saw on the inventory thread (thanks DP, P55, SonOil -- your efforts are appreciated) this gasoline shortage could be coming to a station near you.
Only two stations I saw with fuel today have long lines and purchase limits. I was able to top off my M/C yesterday with a gallon with no wait. Blind luck more than anything.
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Then stop driving to work, duh..... 
Imagine this as the normal state of affairs months on end, and the impact it would have on GDP. People would lose all confidence in being able to buy gasoline on vacations, for instance; they'd be paying so much extra for commodities in all likelihood they wouldn't have the money to take a trip in the first place.
