My native state of North Carolina (along with a few others in the Southeast) continues to suffer from gasoline shortages, especially in the Charlotte area and further West. It looks like shortages will last at least another week before refineries have recovered enough to remedy the situation. Some schools are even closing due to lack of fuel — a serious reminder that oil supply stagnation in the years ahead is a reality we don’t want to hit without (more…)
Posts Tagged ‘prices’
Gasoline shortages show economic fragility of oil dependence
Thursday, September 25th, 2008Gasoline Supplies at Record Low, Ike Maintains Grip on Oil Market
Wednesday, September 24th, 2008The EIA weekly oil report just came out. And as I’ve been writing for days, it wasn’t pretty. Gasoline inventories fell to their lowest level since the 1960s — when gasoline demand was around half of what it is today. This thin margin of supply over demand has already resulted in 10+ days of shortages in (more…)