Main > Everything Else

GAS PRICES....WTH :angry:

<< < (11/14) > >>

Dartful Dodger:
I just heard that Japan lost its major oil refineries and their nuclear power plants might be temporarily disabled, so for the next month or so they’ll have to import a lot of oil to replace and power their country.

Prices went up at just a threat to supply. Now there is a legitimate supply shortage.

Vigo:
I'd be very surprised if that makes any dent into actual oil supplies. Japan doesn't make a whole lot of oil themselves anyway, only about 3% of their supply, and I'm only aware of one downed power plant. If the oil prices raised because of this, I would gather it was more speculation.

CCM:

--- Quote from: Vigo on March 11, 2011, 12:35:09 pm ---I'd be very surprised if that makes any dent into actual oil supplies. Japan doesn't make a whole lot of oil themselves anyway, only about 3% of their supply, and I'm only aware of one downed power plant. If the oil prices raised because of this, I would gather it was more speculation.

--- End quote ---


It doesn't matter if it makes a dent or not, it will still drive prices even higher.

Vigo:
Yep, Exactly. No matter what though, there will be no global shortage of oil because a country that barely drills their own oil might not be able to refine their crude for a few months.  ::)

Dartful Dodger:
Japan just lost all their oil. Japan needs to replace what they lost, needs it for their normal consumption, and they'll need it to burn oil for electricity while their nuclear power plants are offline.

The supply won't go down because Japan won't be supplying it. The supply will go down because Japan will be buying more than anyone anticipated.

Navigation

[0] Message Index

[#] Next page

[*] Previous page

Go to full version