Friday, September 02, 2005

Uh oh.

The video coming out of New Orleans is horrifying. We all knew the South was backwater, but this is ridiculous. Where's the National Guard? I know the news is going to gravitate to the horror and not to the progress, but you'd think you'd hear about something just to quell the anxiety.

Hey folks, I'm hearing on the news that Chicago are gas stations are running out of gas. Anyone else hearing about things like that in your neck of the woods?

Heard an explanation on the radio for gas 'gouging'. Depending on the gas station owners' set-up with the supplier, the station owner does not "own" the gas in the ground. He only holds it on consignment and does not take ownership until it is actually pumped. So the supplier can put the word out that the next gallon pumped now wholesales for $3 a gallon. Nice set-up if you can get it. Very agile. How are profits in the fuel industry going these days?

This is not a rhetorical question: when was the last refinery bult in the US, and why haven't more been built?


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