Oil, Natural Gas Rise as Gustav Threatens US Gulf Platforms

Not logged in [Log In] [Sign Up] [Points Leaders] [My Profile]

Friday, November 21, 2008 8:00:32 PM

Featured Sponsor

Save 5% on gas Get a 5% rebate on gas purchases with the Discover Card* Click here for more info


Add gas prices to your web site. Click here to find out how!

GasBuddy News Article

Oil, Natural Gas Rise as Gustav Threatens US Gulf Platforms Thursday, August 28, 2008
Bloomberg -- Aug. 28 (Bloomberg) -- Crude oil and natural gas rose as Royal Dutch Shell Plc, BP Plc and ConocoPhillips evacuated drilling rigs before the arrival of Gustav, forecast to become the worst Gulf of Mexico hurricane since Katrina. Shell will pull 870 rig workers in the next two days, on top of 400 already moved. ConocoPhilips stopped output at its Magnolia platform and Exxon Mobil Corp. is preparing refineries along the coast for the storm. Gustav may strengthen to become a hurricane as it enters the Gulf of Mexico, home to 26 percent of U.S. production, on Sept. 1, the National Hurricane Center said. ``It's the most dangerous storm of the season,'' said Carsten Fritsch, a Commerzbank AG analyst in Frankfurt. ``The question will be the strength of the hurricane. Some say it will be as serious as Katrina, but that's the worst case scenario.''
Visit Bloomberg for full article

Message Forum - Read Message

Category: Daily News Article Discussions > Topics		Add to favorite topics Post New Topic
Rate this topic: Low 1 - 2 - 3 - 4 - 5 High Avg rating: 0.0 (0 votes)

Author	Topic: Oil, Natural Gas Rise as Gustav Threatens US Gulf Platforms	Post a Reply Back to Topics

JT Moderator	Message Posted: 8/28/2008 10:04:24 AM	Ignore JT Report Abuse
	Thursday, August 28, 2008 Bloomberg -- Aug. 28 (Bloomberg) -- Crude oil and natural gas rose as Royal Dutch Shell Plc, BP Plc and ConocoPhillips evacuated drilling rigs before the arrival of Gustav, forecast to become the worst Gulf of Mexico hurricane since Katrina. Shell will pull 870 rig workers in the next two days, on top of 400 already moved. ConocoPhilips stopped output at its Magnolia platform and Exxon Mobil Corp. is preparing refineries along the coast for the storm. Gustav may strengthen to become a hurricane as it enters the Gulf of Mexico, home to 26 percent of U.S. production, on Sept. 1, the National Hurricane Center said. ``It's the most dangerous storm of the season,'' said Carsten Fritsch, a Commerzbank AG analyst in Frankfurt. ``The question will be the strength of the hurricane. Some say it will be as serious as Katrina, but that's the worst case scenario.'' Visit Bloomberg for full article

REPLIES (newest first)

First

Next Last

POLELANE Champion Author Ohio Posts:2,253 Points:239,175 Joined:Mar 2008	Message Posted: 8/30/2008 6:18:04 PM	Ignore POLELANE Report Abuse
	what's the pic? I thought the royal dutch family sold their interest in Shell. I'll check on that.
Bill313 Champion Author Kansas City Posts:5,368 Points:747,315 Joined:Sep 2006	Message Posted: 8/30/2008 1:48:35 PM	Ignore Bill313 Report Abuse
	expected
STEVE853 Champion Author Florida Posts:1,237 Points:315,965 Joined:Nov 2007	Message Posted: 8/30/2008 11:30:03 AM	Ignore STEVE853 Report Abuse
	Any excuse to raise the price of gas.
Gas_Buzzer Champion Author South Carolina Posts:6,465 Points:1,106,300 Joined:Sep 2005	Message Posted: 8/30/2008 8:30:49 AM	Ignore Gas_Buzzer Report Abuse
	Yeah, should have filled by tank last week. Forgot to call.
POLELANE Champion Author Ohio Posts:2,253 Points:239,175 Joined:Mar 2008	Message Posted: 8/29/2008 2:11:51 PM	Ignore POLELANE Report Abuse
	you germans in Cincy
HOBSONMA Sophomore Author Indiana Posts:111 Points:52,920 Joined:Jun 2008	Message Posted: 8/29/2008 1:59:49 PM	Ignore HOBSONMA Report Abuse
	hmmm...maybe an increase in prices?
WillyG Champion Author Cincinnati Posts:1,426 Points:478,195 Joined:Aug 2005	Message Posted: 8/29/2008 10:02:56 AM	Ignore WillyG Report Abuse
	Who is this Gustav, and what is he doing illegally in the U.S. threatening our economy ? Afuera muchacho !!!
Kthyme Champion Author Fort Worth Posts:2,678 Points:877,365 Joined:Apr 2006	Message Posted: 8/29/2008 10:00:05 AM	Ignore Kthyme Report Abuse
	Are you sick of this yet??? It is utterly ridiculous that we aren't allowed to drill in our own back yard because of a bunch of environmental wacko's...GET THESE PEOPLE OUT OF CONGRESS!!! Get out and vote this year...and not DEMOCRATIC...they are the ones that are BLOCKING THE DRILLING!!! Your Congressman/woman's term will be coming up soon - check to see how they're are voting-they talk the green but don't practice what they preach! ;)
Schwartzmdja All-Star Author Oklahoma City Posts:771 Points:194,890 Joined:Mar 2008	Message Posted: 8/29/2008 9:58:35 AM	Ignore Schwartzmdja Report Abuse
	all yesterday's articles
MajorSteve All-Star Author Oklahoma City Posts:505 Points:238,570 Joined:Sep 2006	Message Posted: 8/29/2008 9:55:50 AM	Ignore MajorSteve Report Abuse
	SO the Gulf is a big place! ANd what are the odds that it will do any damage to any oil platform? Just an excuse...
amearly Champion Author Michigan Posts:3,990 Points:862,340 Joined:Jan 2006	Message Posted: 8/29/2008 9:53:50 AM	Ignore amearly Report Abuse
	Big surprise.
krucker All-Star Author Austin Posts:564 Points:422,005 Joined:Aug 2004	Message Posted: 8/29/2008 9:51:54 AM	Ignore krucker Report Abuse
	Just another Excuse!!!
Don20 Champion Author Oklahoma City Posts:1,530 Points:1,014,745 Joined:Mar 2005	Message Posted: 8/29/2008 9:49:57 AM	Ignore Don20 Report Abuse
	If that storm never hits and oil production area, what is going to be the excuse to rase gas price.. (am sure they have one)
ramshot412 Champion Author Riverside Posts:11,954 Points:1,196,935 Joined:Apr 2004	Message Posted: 8/29/2008 9:47:41 AM	Ignore ramshot412 Report Abuse
	Just another excuse.....
MG_Sputnik All-Star Author Philadelphia Posts:641 Points:443,525 Joined:Apr 2006	Message Posted: 8/29/2008 9:46:48 AM	Ignore MG_Sputnik Report Abuse
	I just heard someone sneezed down there. Prices on the rise now!
duaneinva Rookie Author Virginia Posts:52 Points:78,840 Joined:Aug 2008	Message Posted: 8/29/2008 9:43:32 AM	Ignore duaneinva Report Abuse
	Gee..a thunderstorm is coming through my area in the next 2 days. Better double the electric rates for the next two weeks, just in case a transformer blows!
mvosevich Champion Author St. Louis Posts:1,327 Points:269,880 Joined:Aug 2004	Message Posted: 8/29/2008 9:43:09 AM	Ignore mvosevich Report Abuse
	Big oil prays for hurricanes.
SeerLV All-Star Author Las Vegas Posts:537 Points:132,765 Joined:Jun 2008	Message Posted: 8/29/2008 9:42:17 AM	Ignore SeerLV Report Abuse
	Funny how the price at the pump rises because futures (months away from purchase) rise but when futures fall the price at the pump does not. Hmmmm.
kypeanuts Veteran Author Louisville Posts:342 Points:74,160 Joined:May 2008	Message Posted: 8/29/2008 9:41:40 AM	Ignore kypeanuts Report Abuse
	any excuse
Gerund1 Champion Author Toronto Posts:1,152 Points:828,780 Joined:Apr 2003	Message Posted: 8/29/2008 9:41:10 AM	Ignore Gerund1 Report Abuse
	Bad idea to give all of those folks additional reasons to speculate at our expense.
kevski Champion Author Oregon Posts:1,403 Points:199,090 Joined:Feb 2008	Message Posted: 8/29/2008 9:41:06 AM	Ignore kevski Report Abuse
	first the pre-storm gouge and then the post-storm gouge
SomeChick23 Sophomore Author Edmonton Posts:202 Points:118,390 Joined:May 2007	Message Posted: 8/29/2008 9:40:23 AM	Ignore SomeChick23 Report Abuse
	:(
SLAPSHOT351 Veteran Author Long Island Posts:385 Points:79,500 Joined:Jul 2008	Message Posted: 8/29/2008 9:40:11 AM	Ignore SLAPSHOT351 Report Abuse
	Sorry Martib1215 !!!!
Martib1215 Veteran Author Riverside Posts:357 Points:63,660 Joined:Jul 2008	Message Posted: 8/29/2008 9:36:17 AM	Ignore Martib1215 Report Abuse
	Hey Slapshot...don't give them any ideas! LOL
laddyboy62 Champion Author Riverside Posts:1,586 Points:995,310 Joined:Mar 2005	Message Posted: 8/29/2008 9:36:00 AM	Ignore laddyboy62 Report Abuse
	looks like gustav is a coming..
OuchMyWalletSUV Veteran Author Sacramento Posts:352 Points:77,560 Joined:Jun 2008	Message Posted: 8/29/2008 9:35:48 AM	Ignore OuchMyWalletSUV Report Abuse
	Natural gas...
Bruno44 All-Star Author Texas Posts:995 Points:333,005 Joined:Sep 2007	Message Posted: 8/29/2008 9:33:26 AM	Ignore Bruno44 Report Abuse
	Speculators are having a field day with gustav in the Gulf, and obama etc in the mainland.
SLAPSHOT351 Veteran Author Long Island Posts:385 Points:79,500 Joined:Jul 2008	Message Posted: 8/29/2008 9:33:03 AM	Ignore SLAPSHOT351 Report Abuse
	Not that I paid much attention before, but I never noticed storms affecting fuel prices so much until KATRINA. Seems like someone had a bright idea in 2005 and we've been paying for it ever since. Why don't the utility companies raise the price of electric every time a rain or snowstorm are coming on the ASSUMPTION that trees and wind will take power lines down and disrupt service ? What a crock of #2
z1000 Champion Author Indianapolis Posts:1,255 Points:187,720 Joined:May 2007	Message Posted: 8/29/2008 9:32:33 AM	Ignore z1000 Report Abuse
	ah, bohica. Obviously a Jim Rome fan...
mattf373 All-Star Author Atlanta Posts:566 Points:107,720 Joined:Mar 2003	Message Posted: 8/29/2008 9:32:03 AM	Ignore mattf373 Report Abuse
	speculators favorite news
Tekkie All-Star Author Philadelphia Posts:778 Points:254,570 Joined:Oct 2003	Message Posted: 8/29/2008 9:31:02 AM	Ignore Tekkie Report Abuse
	bohica
SheRides Sophomore Author Louisiana Posts:164 Points:526,450 Joined:Jan 2006	Message Posted: 8/29/2008 9:30:23 AM	Ignore SheRides Report Abuse
	Prices are rising rapidly in Louisiana as Gustav takes aim at us.
Lizzylou Champion Author Stockton Posts:1,452 Points:884,770 Joined:Oct 2005	Message Posted: 8/29/2008 9:30:08 AM	Ignore Lizzylou Report Abuse
	It hasn't even hit the Gulf Coast yet and there are already talks of gas rise??
jmuse All-Star Author Long Island Posts:933 Points:189,905 Joined:May 2008	Message Posted: 8/29/2008 9:29:37 AM	Ignore jmuse Report Abuse
	What about Hanna?
jb47 All-Star Author Shreveport Posts:512 Points:289,850 Joined:Aug 2007	Message Posted: 8/29/2008 9:29:28 AM	Ignore jb47 Report Abuse
	Just another excuse to stick it to us
HDUltra03 Champion Author Oregon Posts:6,910 Points:1,070,475 Joined:Nov 2005	Message Posted: 8/29/2008 9:29:12 AM	Ignore HDUltra03 Report Abuse
	Any excuse to fleece the public.....
gasman50 Champion Author Portland Posts:1,315 Points:820,665 Joined:Nov 2005	Message Posted: 8/29/2008 9:28:31 AM	Ignore gasman50 Report Abuse
	Time will tell, hope it fizzels
no1doc All-Star Author Milwaukee Posts:933 Points:166,925 Joined:Oct 2007	Message Posted: 8/29/2008 9:27:50 AM	Ignore no1doc Report Abuse
	Give me a break
falconmb Champion Author Austin Posts:13,718 Points:409,800 Joined:Jul 2007	Message Posted: 8/29/2008 9:25:54 AM	Ignore falconmb Report Abuse
	speculation
robeke1 Sophomore Author Virginia Posts:103 Points:15,650 Joined:Aug 2008	Message Posted: 8/29/2008 9:25:21 AM	Ignore robeke1 Report Abuse
	Raise before it happens. Lower months after it does not. Just an excuse to make more record profits
jrnascar Veteran Author Dayton Posts:276 Points:177,125 Joined:Jul 2006	Message Posted: 8/29/2008 9:25:12 AM	Ignore jrnascar Report Abuse
	We will just have to wait and see how this storm turns out
sailormon All-Star Author Michigan Posts:649 Points:206,080 Joined:Jul 2007	Message Posted: 8/29/2008 9:21:14 AM	Ignore sailormon Report Abuse
	Just in time to fill up the RV for the Labor Day weekend!
plumb37 Champion Author Quebec Posts:2,380 Points:99,080 Joined:Jun 2008	Message Posted: 8/29/2008 9:20:45 AM	Ignore plumb37 Report Abuse
	Time will tell
Austin1850 Champion Author Austin Posts:2,173 Points:148,860 Joined:May 2008	Message Posted: 8/29/2008 9:19:05 AM	Ignore Austin1850 Report Abuse
	I heard 3 or 4 this morning on the news
plumb37 Champion Author Quebec Posts:2,380 Points:99,080 Joined:Jun 2008	Message Posted: 8/29/2008 9:19:02 AM	Ignore plumb37 Report Abuse
	Yes a 5 back to back with a 4
Tommy4Wheel Champion Author Wilmington Posts:20,609 Points:1,485,675 Joined:Apr 2004	Message Posted: 8/29/2008 9:18:06 AM	Ignore Tommy4Wheel Report Abuse
	5
RochBear Champion Author Minnesota Posts:1,758 Points:505,580 Joined:May 2006	Message Posted: 8/29/2008 9:17:27 AM	Ignore RochBear Report Abuse
	Latest prediction is to make landfall as a cat 2 hurricane, The oil rigs will survive just fine. However, for safety of the crews, they will pull people off the rigs for a few days. I think we can live without production for a few days, That's why we have stockpiles.
plumb37 Champion Author Quebec Posts:2,380 Points:99,080 Joined:Jun 2008	Message Posted: 8/29/2008 9:16:15 AM	Ignore plumb37 Report Abuse
	World crud oil prices, that's what does it. [Edited by: plumb37 at 8/29/2008 10:16:28 AM EST]
AC-302 Champion Author Los Angeles Posts:8,373 Points:1,317,355 Joined:Aug 2004	Message Posted: 8/29/2008 9:16:10 AM	Ignore AC-302 Report Abuse
	I thought it was a category 5 hurricane already. The net effect will depend on where it makes landfall. Those oil rigs are built to take a cat 5 storm. During Katrina, none of the rigs spilled so much as one barrel of oil. Not sure about damage though..
HEBster All-Star Author Kentucky Posts:831 Points:772,830 Joined:May 2006	Message Posted: 8/29/2008 9:15:15 AM	Ignore HEBster Report Abuse
	Hope it won't be tooooo bad!