Locator: 45474HURRICANESEASON.
Two links:
- next hurricane could shut in 40% of GOM produuction, Alex Kimani. Link here.
- low US oil reserves to clash with "above normal" hurricane season; link here.
- note: completely wrong, by the way -- hurricanes have minimal effect on crude oil reserves; WTI is measured at Cushing, OK; hurricanes hitting TX/LA have major effect on refining -- it's gasoline stores and production at risk; oil supplies? We'll do just fine.
- Hurricane Harvey: August, 2017; Texas; category 4; devastating; gasoline supplies greatly impacted, much simply because 18-wheelers couldn't get to and from the coast
- there are no gasoline pipelines that run from the coast direct to our neighborhood filling stations
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The Data
From yesterday, re-posting.
Locator: 45471B.
Gasoline prices are at "recent"highs.
The Biden administration is "monitoring" this. What concerns them most?
Gasoline demand and status, link here, three charts:
Refiners, weekly EIA petroleum report:
- refiners are operating at 94.5% of their capacity; pedal to the metal
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Commentary
The Biden administration says they are monitoring the three graphics above. What are they monitoring? What are they worried about?
I'm thinking back to August 17, 2017, to September 3, 2017.
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