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Saturday, May 29, 2010

Gulf Oil Spill Gives Big Oil Companies An Excuse To Raise Oil Prices

The Gulf Oil Spill of 2010 will not just be known as one of the worst oil spills in history, but it will be known as the oil spill which spiked oil prices in an hard-hit U.S. economy. As if we need another thing to deplete our already lightened wallets. It's bad enough many of us have to endure reduced work-hours, no raises for a year or two, and higher living expenses.

Were you getting used to paying less than $3 a gallon for oil for the past year and a half? Well get used to prices above $3 a gallon or much more this summer.

Big Oil companies have just the excuse they need to pillage us at the pumps. Will this mean that they charge upwards of $4 a gallon for oil? Probably not, but you can expect oil prices to surge well above $3 a gallon like they did after Hurricane Katrina.

Natural disasters that affect oil refineries are pornography for Oil Executives. When they can use a natural disaster or any disaster as an excuse to justify inflated prices they jump on the opportunity faster than you can say "oil."

Some would disagree with this school of thought. online brokerage site, feels that the Gulf Oil Spill will have a limited impact on crude prices.

Oil prices soared today after an upbeat report in jobless claims and will only continue to do so now that the summer season is upon us. Added to that, the Gulf Oil Spill is feared to be five times worse than originally feared. According to The Coast Guard, a damaged BP oil well in the Gulf of Mexico is leaking about 5,000 barrels a day, five times more than previously estimated . At the current rate the spill will exceed the Exxon Valdez disaster by the third week of June. In other words, this is a bona fide cluster (you know what).

There are a significant amount of refineries in the Gulf of Mexico and any "hiccup" in the production causes prices to go up. At this point it's hard to say just how much prices will go up, but you would be naive to not expect them to be affected.

BP is spending $6 million a day to clean up this mess. Now, Shell is offering a helping hand.

We'll be offering them a helping hand soon at the pumps. Get in line!

By, D. Bakay

1 comment:

Anonymous said...

I consider the spill, (together with this month's moratorium on gulf, west coast and east coast drilling permits, together with EPA's planned takeover of Texas' 30+ chemical plants)-- as the largest, single 'carte blanche', ever given to OPEC.

Please raise our prices to whatever you wish-- our idiotic D.C. folks want $20 per gallon fuel prices (God only knows why?), together with a totally destroyed American economy (as if the taxes, enviro-regs, and hiring preferences for non-Americans, non males, and non whites--aren't doing enough, already.) or.. just MAYBE, Obama's oft hidden, middle name is finally manifesting its TRUE allegiance and loyalties???

The unanswered question still remains (knowing all the enviro-terrorist acts of groups like greenpeace): did these groups, and/or our GOV'T--
intentionally sabotage this site-- to create the emergency-- to facilitate the gov't takeover of yet another (post-TARP/bailout era) industry, and usher in another set of gov't controls??? Further, was 9-11 another such insider terror act, which failed to accomplish the enviro-terro takeovers (oh, the poor little fishees in the Hudson... fine SOMEBODY... declare enviromental marshall law), because the designated enviro-wacko (AlGore) wasn't in the White House, as planned?

Sure are TRUSTING/unquestioning SOULS, aren't we?? WHY? (I guess, we won't know for about 60 years, until the top secret files are finally unsealed!)