DALLAS (AFX) -- Crude futures, which lost 4 percent at the close of trading on the New York Mercantile Exchange Wednesday, jumped almost 1 percent in after-hours dealings after television stations reported a refinery fire at BP's Texas City, Texas refinery -- the third largest in the U.S. "The news spread like wildfire across the trading floor near the end of the NYMEX session and I suspect that when 'after hours' trading begins, there will be a lot of fireworks in futures," said Tom Kloza, chief oil analyst at the Oil Price Information Service. The May contract last stood at $54.30, up 49 cents This story was supplied by MarketWatch. For further information see www.marketwatch.com For more information and to contact AFX: www.afxnews.com and www.afxpress.com
Just in case the govt tries to blame Al qaeda a contract worker mentions a leak in a truck or tank and a man trying to start his stalled truck. Someone said not to, but he continued to turn the engine over. Hurry before this video link disappears.
Err.. its a world event? mind you it did refine 3% of the USA's petrol and no doubt will give the markets the jitters thus propelling us towards $60 a barrel.
Some of the Anti-American nutters would probably say that this is going to force us to invade another country for more oil. I can't quite understand that when we don't have the refining capasity to process what we do have.
Nobody has yet proposed that, right? You're creating and responding to an argument where there is none. It's called "strawman fallacy", if I remember my critical thinking lectures correct.
I had a shit today, should I start a thread? I could start a thread for every news item I see in the paper, they're all "world events"? Part of an oil refinery blew up, what is the "point of discussion"? There was no question or statement in the starting post about the possible effects this could have on the world or the cause of the explosion other than the following. Well, lets give Tom a nobel prize for insightfulness Please Register or Log in to view the hidden image!
Avatar: I like shooting down enemy arguements before they get off the airfield. If I was wrong and they would never be presented, I lose nothing. If I was right, I either start or take the first step to combating the false idea.
Eh. Say what you like but I have my own brand of logic. While you may have yours, your 'voice' doesn't do much to get it across. While I have been accused of sounding greed driven, you seem driven by blinding contempt and raw emotion. Who is right? I have the tact to lean on relativism and say we both are and it depends on perspective. Will you do the same?
Yeah, I'm mostly bored and not a populist. I don't care for politics because they don't matter. From formal logic and critical thinking point of view - I am.
"I can't quite understand that when we don't have the refining capasity to process what we do have." Simple supply and demand Please Register or Log in to view the hidden image! Look how many refineries have closed in California! They just simply crimp the supply to keep prices high. They should all be shot. Im ready for Hydrogen and Fusion anytime. Granted I support the war but the $400 Billion could have built a nice hyrdogen fuel network....
