Originally Posted by Scorchr69
Here's a couple of interesting things.. It costs opec $4 per barrel to produce crude... Sells for 65 +, the cost has not gone up to produce it.
The problem with the prices is the simple fact that almost all the gas for the entire eastern 1/3 of the US goes through New Orleans and surrounding areas...The part that has all the "people in the know" scared is that the refineries we need were in the areas destroyed by the hurricane. ...What kind of effect do you think extremely limited production will have when the industry hits the really major usage time.
Gas for our cars to me is not as important as being able to stay warm on those winter nights!
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I totally agree. But bear in mind, prices were already going up before Katrina hit. We will also see price increases in goods across the board.