Explosion @ BP in Texas
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Elder User
Joined: Jul 2004
Posts: 620
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From: Toronto, ON
Explosion @ BP in Texas
Hmm...
Oh, how I was quite encouraged how oil has dropped $4USD per barrell over the last few days, with news of the US dollar continuing to strengthen (that would help lower oil prices more), and news that growth is slowing in China and India causing a lower consumption estimates (good!).
THEN THIS HAPPENS!
It's breaking news and I haven't even read Reuters article yet, but already I find it somewhat wierd at the timing!
snippets:
"local television reported that four people were killed in the blast"
"The BP refinery, the third largest refinery in the country, has a throughput of 470,000 barrels per day"
"One refinery expert said the site appeared to be part of the refinery used to make gasoline."
Oh, how I was quite encouraged how oil has dropped $4USD per barrell over the last few days, with news of the US dollar continuing to strengthen (that would help lower oil prices more), and news that growth is slowing in China and India causing a lower consumption estimates (good!).
THEN THIS HAPPENS!
It's breaking news and I haven't even read Reuters article yet, but already I find it somewhat wierd at the timing!
snippets:
"local television reported that four people were killed in the blast"
"The BP refinery, the third largest refinery in the country, has a throughput of 470,000 barrels per day"
"One refinery expert said the site appeared to be part of the refinery used to make gasoline."
Elder User
Joined: Jan 2005
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From: Shawnee, Ks
Elder User
Joined: Feb 2002
Posts: 987
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From: East Bend, Carolina, U.S
Today a spokesman for the BP refinery stated " the explosion has not affected production". So, having said that today, someone will have to fabricate another lie tomorrow to explain why this will cause higher gasoline prices.
We all know that the consumers have paid for any and all of their (oil companies) mistakes since the beginning any way. In other words, when a tanker spills it's cargo a pipeline bursts or an explosion like the one in Texas happens, we the consumers pay in the long run. Don't get me wrong. I don't mean to discount the loss of our clean environment or loss of lives in any way. It is just a matter of fact as to how things work in economics.
We all know that the consumers have paid for any and all of their (oil companies) mistakes since the beginning any way. In other words, when a tanker spills it's cargo a pipeline bursts or an explosion like the one in Texas happens, we the consumers pay in the long run. Don't get me wrong. I don't mean to discount the loss of our clean environment or loss of lives in any way. It is just a matter of fact as to how things work in economics.
Last edited by Purely Ford; Mar 24, 2005 at 12:00 PM.
Elder User
Joined: Oct 2004
Posts: 759
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From: Omaha
Oil Refinery In A Blaze In Texas
I watch the news last night and they said that a oil refinery cought of fire in Texas and they are saying it could raise gas prices more. Did anybody catch this on the news.
Post Fiend
Joined: Jan 2003
Posts: 8,600
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From: Iowa
Well, you can tack on $0.50 to whatever gas price you have now. Here that means it'll be up to $2.60 / gallon.
And you can bet it wont be coming back down any time soon.
And you can bet it wont be coming back down any time soon.
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Senior User
Joined: Jan 2004
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From: 29 Palms, CA
Originally Posted by rusty70f100
Well, you can tack on $0.50 to whatever gas price you have now. Here that means it'll be up to $2.60 / gallon.
And you can bet it wont be coming back down any time soon.
And you can bet it wont be coming back down any time soon.
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New User
Joined: Mar 2005
Posts: 13
Likes: 0
From: West Texas
I don't live too far from there and we are already seeing higher gas prices because of it.
thats the excuse they are using anyway.
It has also been reported that that part of the plant was not in use. makes you wonder.
thats the excuse they are using anyway.
It has also been reported that that part of the plant was not in use. makes you wonder.
Post Fiend
Joined: Jan 2003
Posts: 8,600
Likes: 4
From: Iowa
It's just a big farse. They're looking for short term profits for shareholders, so they blow up part of an unused part of the refinery. That way they can gouge prices even more.
Monday I'm starting work on my ethanol fuel still.
Monday I'm starting work on my ethanol fuel still.
Elder User
Joined: May 2004
Posts: 553
Likes: 0
From: Ont. Can.
The explosion was reported to be in a working area of the plant,(hence the explosion), that controls the addition of octains and additives to gasoline .
The oil and gas companies operating here which are all US owned but one contribute a percentage of their profits to a co op fund which is then used for
any spills or catastrophic production accidents and is controlled by an independant commitee of appointed citizens.
I do not know if this is also in place in the US but it works well here . There are emergency response spill units and industry trained personell located in each geographic area where production takes place to respond in minutes if something occours .
Even the environmental reclamation of a spill site is covered under this co op umbrella . I have taken the training required for both the response and the supervision of a clean up or reclamation though fortunately was required to respond only once so far in 12 years .
The oil and gas companies operating here which are all US owned but one contribute a percentage of their profits to a co op fund which is then used for
any spills or catastrophic production accidents and is controlled by an independant commitee of appointed citizens.
I do not know if this is also in place in the US but it works well here . There are emergency response spill units and industry trained personell located in each geographic area where production takes place to respond in minutes if something occours .
Even the environmental reclamation of a spill site is covered under this co op umbrella . I have taken the training required for both the response and the supervision of a clean up or reclamation though fortunately was required to respond only once so far in 12 years .
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