Have begun.My state's governor just issued a state of
Emergency over the significant spike in gas price.
Due to IKE and the troubles associated with the Gulf
and all the Oil coming from there.
Plus with people flee'n and needing to fill up,places like
Houston are in a state of dilemna for Gas spiking and
shortage.

Aren't you in Ohio? I don't see any news about Strickland doing that. Mind you I'm in DC at the moment.

Aren't you in Ohio? I don't see any news about Strickland doing that. Mind you I'm in DC at the moment.

No ... Louisville,Ky.Home of THE Greatest,Living,Active Statesman.
I'll let you guess who that is.
NO ... Not Leftist John Yarmouth.

Let's see what happens now. The price of oil is dropping. Today it's now $94.13 a barrel and the price of gas at the pump? Big surprise, hasn't dropped in fact has risen over the weekend. Let's see what happens today.

Let's see what happens now. The price of oil is dropping. Today it's now $94.13 a barrel and the price of gas at the pump? Big surprise, hasn't dropped in fact has risen over the weekend. Let's see what happens today.

Because Miraclously the oil rigs and infrastructure held up.
One reason for the initial spike was due to previous production
or Refining capacity.Since over the summer gas consumprion was in
decline { Demand } Our Oil Reserves were lower than normal.
Meaning,during a crisis,there is less Gas for immediate consumption.
I believe there's a built-in 3 week window between raw oil
and refined gas.

Because Miraclously the oil rigs and infrastructure held up.


Thankfully.

[One reason for the initial spike was due to previous production
or Refining capacity./QUOTE]

You mean the intial spike in 2007? was the production/refining level low at that point? I'm Not being sarcastic, I'm asking to genuinly understand the factors that come into play.

[QUOTE]Since over the summer gas consumprion was in
decline { Demand } Our Oil Reserves were lower than normal.


If the demand was lower shouldn't the amount of oil reserved be allowed to increase at that point to bring it up ro acceptable levels and balance the price of gas back to a more comfortable level. I truly believe that for a long time we have lived with lower than average gas prices ( at least based on what the rest of the world pays) but I also believe that the people of America have to be given time to adapt to higher prices and a fair price has to be reached for both the oil companies and the consumer.

Meaning,during a crisis,there is less Gas for immediate consumption.


Then the amount of reserve should be increased so that it has less of an impact. I agree it is still going to have some impact but maybe that will lessen the blow.

Gas prices seem to have been going down pretty steadily lately in my area, although they may have hit something of a plateau in the past few days.

production of refined crude is based on consumption.If consumption
is high,than production is also high.That is why pressuring the Saudi's
to produce a million more barrels a day was important,but not really.
The Saudi's produce at near full capacity,since it costs little more
to do than say 75%-80%.
But still the Saudi's try and stay with market demand.
Same with our Gulf coast refiners.