Gas Prices
From
KOMO-TV comes this story about Gas Prices and the projected trend for the future...
bq. A gasoline industry analyst, Tim Hamilton of AUTO -- an organization serving independent gas stations -- is predicting the high gas prices of today will be the bargains of tomorrow.
bq. The problem, Hamilton says, is Shell's plan to close its refinery in Bakersfield, California, and ship Washington refinery gas to California.
bq. Shell says the problem is a shortage of crude oil. The claim is disputed by some California state officials and by two refinery workers who spoke on condition of anonymity. The two say supervisors have told them that if retail prices are $2.00 per gallon or more they can make more importing gas from other areas.
bq. One Bakersfiled worker "Jack" told a California TV station: "Shell has lied to our community, to our government, lied and led people to believe there's is an inadequate supply of crude to run that refinery."
bq. Other workers leaked documents several weeks ago... showing the Bakersfield refinery is hugely profitable.
bq. More Shell documents were leaked Friday. One signed by the company president warned of disciplinary action if more confidential company memos were leaked. The letters were addressed to members of the Bakersfield refinery.
I believe this -- there has always been a gas spike in March because we change from winter to summer fuels and there is not sufficient reserve to tide us over. There is no shortage of crude - we get about 14% from the middle east and the rest from Alaska, Mexico, South America. Africa is starting to come online as well as Sakhalin Island in Russia. Crude is not short. Politics is not either and needs to be.
I think that I will make a point to not buy gas at a Shell station in any near future. Exxon has actually done some amazing things environmentally since their little "wake-up call" ten years ago -- they are proactively initiating programs that are above industry standards.
Posted by DaveH at May 1, 2004 9:42 PM