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Gasoline Rises as PDVSA Refinery Outages Sends Cargoes South

Bloomberg.com -- By Aaron Clark

Sept. 1 (Bloomberg) -- Gasoline futures in New York rose as problems with a Latin American refinery shifted motor-fuel cargoes away from the U.S. to South America.

Petroleos de Venezuela SA plans to restart the gasoline- making catalytic cracker at its Isla refinery on the island of Curacao this week following an Aug. 27 power failure, a company official said yesterday.

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Submitted Sep 01, 2009 By: Chazzy12

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Wizrd03 Champion Author Illinois Posts:8,157 Points:1,633,310 Joined:Oct 2008	Message Posted: Sep 1, 2009 12:05:59 PM Ignore Wizrd03 Report Abuse YAWN....
Hunter114 Champion Author Chicago Posts:9,106 Points:1,450,710 Joined:Apr 2009	Message Posted: Sep 1, 2009 11:58:58 AM Ignore Hunter114 Report Abuse The oil price yo-yo and excuses continue.
gypsykid Champion Author Florida Posts:2,192 Points:435,515 Joined:Apr 2009	Message Posted: Sep 1, 2009 11:56:03 AM Ignore gypsykid Report Abuse i think they're trying to create fear and panic to get ppl to buy more gas...there's no shortage
Pete12 Champion Author Albany Posts:4,876 Points:1,645,815 Joined:Nov 2005	Message Posted: Sep 1, 2009 11:53:30 AM Ignore Pete12 Report Abuse There is no shortage of gas in the US. The refiners that cut back on gas refining could pick up the slack if this lasts a long time. They don't want to to keep the price up. This is why they cut production in the first place.
ruc2827 Veteran Author Illinois Posts:362 Points:831,620 Joined:May 2004	Message Posted: Sep 1, 2009 11:51:03 AM Ignore ruc2827 Report Abuse So called "outages" are nothing more than planned shut downs to avoid surpluses, which would otherwise naturally occur. Even if there is a glut of oil, if refineries reduce their capacity by taking their equipment down for "maintennance" then this does not result in a glut of gasoline. The goverment needs to subsidize building new refineries if they really want to solve the price manipulation.
civicdutie Champion Author Rochester Posts:4,516 Points:955,435 Joined:Nov 2008	Message Posted: Sep 1, 2009 11:50:53 AM Ignore civicdutie Report Abuse Any excuse to keep sticking it to us.
toyrunner300 Champion Author Calgary Posts:3,232 Points:1,354,045 Joined:Jan 2007	Message Posted: Sep 1, 2009 11:50:04 AM Ignore toyrunner300 Report Abuse Wait a little, tomorrow it will be an article about stockpile drop so they will be able to raise the price again
fullcirclethink Champion Author Washington Posts:2,007 Points:159,270 Joined:Jun 2009	Message Posted: Sep 1, 2009 11:49:51 AM Ignore fullcirclethink Report Abuse First, we are being held captive to the whims of OPEC when it comes to the price of oil and everyone shouts "we need to become less dependent on foreign oil"! Then we get the news that China is threatening to cut off our supplies for precious metals to manufacture hybrids. Now we find that we are subject to other countries' gasoline deliveries. Wow! Thanks again all you tree huggers for allowing us to drill here, dig here and refine here!!!
FastAndy Champion Author Indianapolis Posts:4,496 Points:1,986,250 Joined:Jun 2007	Message Posted: Sep 1, 2009 11:47:36 AM Ignore FastAndy Report Abuse This is just how they plan to get the gasoline prices up for the Labor Day holiday.
coke_kid Champion Author Chicago Posts:1,536 Points:324,370 Joined:Nov 2005	Message Posted: Sep 1, 2009 11:44:42 AM Ignore coke_kid Report Abuse its all a joke as they use us to fatten their wallets
abcdMA Champion Author Worcester Posts:7,932 Points:1,576,930 Joined:Nov 2008	Message Posted: Sep 1, 2009 11:43:40 AM Ignore abcdMA Report Abuse another "planned" outage
2granny Champion Author Michigan Posts:9,580 Points:1,467,230 Joined:Apr 2009	Message Posted: Sep 1, 2009 11:41:42 AM Ignore 2granny Report Abuse Just another excuse to raise the prices.
Plebe2001 Champion Author Philadelphia Posts:3,260 Points:652,690 Joined:Jul 2008	Message Posted: Sep 1, 2009 11:37:30 AM Ignore Plebe2001 Report Abuse A power failure that affects supply might just be a power failure. Do you really think that Petroleus de Venezuela SA wanted to not ship gasoline if it was possible? They want a profit which they are entitled to make. It would make NO sense to close their plant if they could sell the gas and make a profit
AJKPA Champion Author Pennsylvania Posts:102,105 Points:1,564,380 Joined:Oct 2008	Message Posted: Sep 1, 2009 11:36:57 AM Ignore AJKPA Report Abuse another excuse to raise the prices
AJKPA Champion Author Pennsylvania Posts:102,105 Points:1,564,380 Joined:Oct 2008	Message Posted: Sep 1, 2009 11:36:35 AM Ignore AJKPA Report Abuse does that mean gas is going up again
cj003 Champion Author Michigan Posts:2,221 Points:1,256,295 Joined:Mar 2006	Message Posted: Sep 1, 2009 11:35:35 AM Ignore cj003 Report Abuse does this sound like the price of gas will go up?
toyrunner300 Champion Author Calgary Posts:3,232 Points:1,354,045 Joined:Jan 2007	Message Posted: Sep 1, 2009 11:34:53 AM Ignore toyrunner300 Report Abuse GGalbo, I don' think we will ever see oil at $30 - $40 barrel, get over it!!
tbybee All-Star Author Omaha Posts:702 Points:316,435 Joined:Apr 2008	Message Posted: Sep 1, 2009 11:32:30 AM Ignore tbybee Report Abuse This just in... fuel prices rise on news that the sky is blue... developing...
Brewernut All-Star Author Milwaukee Posts:854 Points:320,330 Joined:Oct 2008	Message Posted: Sep 1, 2009 11:31:23 AM Ignore Brewernut Report Abuse well up goes gas because someone needs more money
GGAlbo Champion Author Detroit Posts:2,248 Points:1,886,300 Joined:Sep 2006	Message Posted: Sep 1, 2009 11:30:09 AM Ignore GGAlbo Report Abuse Oil should be running around $30-$40 a barrel!!!!
FordGuy48 Champion Author Albuquerque Posts:1,324 Points:631,980 Joined:Jul 2005	Message Posted: Sep 1, 2009 11:27:31 AM Ignore FordGuy48 Report Abuse Lets see, if Hugo starts losing money because of this, how many heads will roll?
BottomFeeder All-Star Author Houston Posts:610 Points:52,055 Joined:Aug 2006	Message Posted: Sep 1, 2009 11:27:23 AM Ignore BottomFeeder Report Abuse Fuel prices are too low.
lostorosbravos Champion Author Oklahoma Posts:1,178 Points:299,270 Joined:Jul 2008	Message Posted: Sep 1, 2009 11:26:34 AM Ignore lostorosbravos Report Abuse Another reason to raise fuel prices.
bbthegun Champion Author San Diego Posts:5,983 Points:1,681,940 Joined:Sep 2006	Message Posted: Sep 1, 2009 11:26:29 AM Ignore bbthegun Report Abuse What am I missing here? Why is their shortage our problem?!
FredericoAZ All-Star Author Phoenix Posts:938 Points:962,500 Joined:Mar 2009	Message Posted: Sep 1, 2009 11:26:10 AM Ignore FredericoAZ Report Abuse Lots of reasons for price to go up.
letmathe Champion Author Chicago Posts:14,316 Points:3,133,295 Joined:May 2001	Message Posted: Sep 1, 2009 11:23:21 AM Ignore letmathe Report Abuse Another interesting "reason."
dinahf Champion Author Kansas City Posts:9,483 Points:1,447,095 Joined:Apr 2006	Message Posted: Sep 1, 2009 11:23:12 AM Ignore dinahf Report Abuse Get off the "worry-about-oil train" and onto the alternative fuel train...it's ready to go farther.
waynemustang Champion Author Indiana Posts:6,382 Points:1,666,760 Joined:Nov 2006	Message Posted: Sep 1, 2009 11:22:37 AM Ignore waynemustang Report Abuse We MUST build new refineries. Our national security depends on it.
eights Champion Author Ohio Posts:2,284 Points:641,995 Joined:Aug 2006	Message Posted: Sep 1, 2009 11:22:34 AM Ignore eights Report Abuse i gueesi was right in previous one
packards42 Champion Author Washington Posts:6,447 Points:1,128,590 Joined:Feb 2005	Message Posted: Sep 1, 2009 11:21:00 AM Ignore packards42 Report Abuse Strange Venezuela has a problem and the uSA pays, it takes week to get here, and I did know we purchased refined gasoline from South america. I think not.
amearly Champion Author Michigan Posts:12,124 Points:2,468,585 Joined:Jan 2006	Message Posted: Sep 1, 2009 11:18:41 AM Ignore amearly Report Abuse That's interesting that the market today is 1.82 ,yesterday it was 1.97.
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Sep 1, 2009 11:18:12 AM Ignore Lizzylou Report Abuse There is always a reason as to why the price of gas goes: price of the barrel, refinery outage, etc. etc. etc.!!
Rick52 Champion Author Milwaukee Posts:12,036 Points:1,199,620 Joined:Mar 2005	Message Posted: Sep 1, 2009 11:18:10 AM Ignore Rick52 Report Abuse Any excuse that they can come up with !!!!!!
Price_Patrol Champion Author Cincinnati Posts:16,505 Points:2,073,815 Joined:Jun 2007	Message Posted: Sep 1, 2009 11:16:25 AM Ignore Price_Patrol Report Abuse Just in time for Labor Day price gouging.
papagreg Champion Author Sacramento Posts:1,527 Points:512,700 Joined:Jan 2008	Message Posted: Sep 1, 2009 11:15:13 AM Ignore papagreg Report Abuse Like a refinery in Venezuela really affects the US?
Chazzy12 Champion Author Massachusetts Posts:2,711 Points:711,710 Joined:Dec 2008	Message Posted: Sep 1, 2009 11:14:45 AM Ignore Chazzy12 Report Abuse What a bunch of garbage. NYMEX gasoline drops 10 cents yesterday on China credit news. Now it's back up over 4 cents based on this?? Greed and manipulation by the commodity betting houses. TAKE ENERGY OUT OF THE COMMODITIES MARKET!!