Oil Refining: Minimal Damages from Rita
Many news articles are stating that because of a shift in hurricane Rita's pattern from a direct line into Huston with a movement more towards the eastern portion of Texas, our nation has been saved from another massive increase in gas prices. The United States Coast Guard preformed and aerial assessment of the refiners in the gulf and determined that there was no severe damage done to the refineries. According to the MSNBC article by John Schoen the longest period of any refinery being shut down is one month and many of the others will be up in running in less than two weeks. Even thought the refineries will return to normal production soon there is still predicted to be a slight increase in gas prices once again for a short period of time. Bush stated that more oil reserves can be released if needed and I hope that all measures are taken to lower gas prices or keep them the same as what they are currently until the impacts of Rita are reconciled.
Posted by Tyler at 9/26/2005 06:03:00 PM