Critical East Coast Fuel Pipeline to Reopen by Weekend, Company Says. NBC News.
The country's biggest fuel transporter said Thursday that it hopes to resume moving fuel through hurricane-devastated Texas to the East Coast by the weekend, raising hopes that a severe national Labor Day gasoline shortage will be averted. Colonial Pipeline Co. shut down its line carrying diesel and jet fuel from Houston to New York Harbor on Wednesday because of damage and refinery outages west of Lake Charles, Louisiana, related to Hurricane Harvey. The company said it would shut down the line that transports 40 percent of the South's gasoline on Thursday. But in a statement Thursday afternoon, Colonial — the main provider of fuel for major cities like New York, Atlanta, Charlotte, North Carolina, Baltimore and Washington, D.C., pumping as much as 3 million barrels of fuel every day — said it had been able to keep the lines operating "intermittently" east of the flood zones. The lines from Houston to Louisiana — to which half of the refineries served by Colonial are attached — remained down on Thursday. Colonial estimated that they, too, would be back online by Sunday.
Natural Gas Factbox: Full market recovery seen weeks away. Platts.
US Gulf of Mexico offshore natural gas output rebounded Thursday, while exports to Mexico struggled to return to normal and some midstream operators continued to report disruptions almost a week after Harvey struck Houston, according to a Thursday afternoon report by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Domestic gas demand recovered slightly, but remained down about 2.5 Bcf/d from the month-to-date average prior to the storm and is still down 4.1 Bcf/d from August 2016 levels. Analysts expect it to take weeks for the market to fully recover, after the storm dumped upwards of 50 inches of rain on Houston over the past week. Meanwhile, Hurricane Irma is taking shape northeast of Venezuela, according to the US National Weather Service.
Fuel Shortages
Fuel Shortages
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Fuel Shortages
CBS News: "We need that Gulf Coast": Harvey flooding shuts down oil refineries.
As floodwaters in Texas rose, so did gasoline prices -- all over the nation. Since Friday, they're up 10 cents, to a nationwide average of $2.45 a gallon -- the highest they've been all year. The nation's largest oil refinery is waterlogged and shut down after Harvey ravaged Port Arthur, Texas. More than a dozen refineries across the Gulf are closed, including those operated by ConocoPhillips outside Houston and ExxonMobil in Baytown -- the nation's second largest. It normally pumps out 560,000 barrels of oil a day. About a third of the nation's refining capacity is offline on the Gulf Coast. John Hofmeister, former president of Shell Oil, weighed in on the current situation. "Without it we'd be in gas lines all the time. We need that Gulf Coast," Hofmiester said. "Best case: the refinery should be up and operating again for the most part by the middle of September. Worst case: some of those refineries -- if they're really seriously damaged -- they could be down through Thanksgiving or longer," he added.
As floodwaters in Texas rose, so did gasoline prices -- all over the nation. Since Friday, they're up 10 cents, to a nationwide average of $2.45 a gallon -- the highest they've been all year. The nation's largest oil refinery is waterlogged and shut down after Harvey ravaged Port Arthur, Texas. More than a dozen refineries across the Gulf are closed, including those operated by ConocoPhillips outside Houston and ExxonMobil in Baytown -- the nation's second largest. It normally pumps out 560,000 barrels of oil a day. About a third of the nation's refining capacity is offline on the Gulf Coast. John Hofmeister, former president of Shell Oil, weighed in on the current situation. "Without it we'd be in gas lines all the time. We need that Gulf Coast," Hofmiester said. "Best case: the refinery should be up and operating again for the most part by the middle of September. Worst case: some of those refineries -- if they're really seriously damaged -- they could be down through Thanksgiving or longer," he added.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Fuel Shortages
This is total political BS just to appease the voters on the east coast that think the government can solve everything. Gasoline prices and shortages have nothing to do with a shortage of crude oil. Plus, a million barrels of crude oil is drop in the bucket. We consume 17 million barrels of refined products each DAY.
USA Today: Nation's emergency oil stockpile tapped to try to limit gas price boosts.
The Energy Department is cracking open the nation's emergency stockpile of oil reserves for the first time in five years to help ease the impact of Hurricane Harvey on gasoline prices. Energy Secretary Rick Perry on Thursday ordered the release of 1 million barrels of oil from the Strategic Petroleum Reserve, a massive government underground storage system designed to provide an emergency backup in event of oil supply disruptions. The move comes amid rising gas prices following the temporary closure or planned shut downs at 16 refineries along the Texas Gulf Coast that have been overwhelmed by flood waters. About 25% of the nation's refining capacity is offline indefinitely due to the monster storm and flooding, according to Energy Department. For some refineries that remain open, obtaining oil to make gasoline is an issue. Closure of ports in Houston and Corpus Christi, reduced capacity of the critical Colonial Pipeline and the inaccessibility of certain roads has undermined access to oil.
USA Today: Nation's emergency oil stockpile tapped to try to limit gas price boosts.
The Energy Department is cracking open the nation's emergency stockpile of oil reserves for the first time in five years to help ease the impact of Hurricane Harvey on gasoline prices. Energy Secretary Rick Perry on Thursday ordered the release of 1 million barrels of oil from the Strategic Petroleum Reserve, a massive government underground storage system designed to provide an emergency backup in event of oil supply disruptions. The move comes amid rising gas prices following the temporary closure or planned shut downs at 16 refineries along the Texas Gulf Coast that have been overwhelmed by flood waters. About 25% of the nation's refining capacity is offline indefinitely due to the monster storm and flooding, according to Energy Department. For some refineries that remain open, obtaining oil to make gasoline is an issue. Closure of ports in Houston and Corpus Christi, reduced capacity of the critical Colonial Pipeline and the inaccessibility of certain roads has undermined access to oil.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Fuel Shortages
New York Times.
Ports along the Gulf of Mexico are closed to fuel barges. Part of the biggest pipeline between Texas and New York has stopped flowing. Refineries and gas stations are flooded. Drilling rigs in the biggest shale field in Texas are running low on diesel supplies. As a result, the fallout from Hurricane Harvey’s devastation is now spanning the country, forcing gasoline price increases and possible consumer shortages of fuel. Nationally, the average price of a gallon of regular gasoline on Thursday morning jumped 5 cents from the day before, to $2.45, the highest price of the year, according to the AAA motor club. And contracts for September wholesale deliveries rose 25.5 cents a gallon, signaling the worst is yet to come. Experts said prices at the pump could easily rise an additional 30 cents a gallon.
Ports along the Gulf of Mexico are closed to fuel barges. Part of the biggest pipeline between Texas and New York has stopped flowing. Refineries and gas stations are flooded. Drilling rigs in the biggest shale field in Texas are running low on diesel supplies. As a result, the fallout from Hurricane Harvey’s devastation is now spanning the country, forcing gasoline price increases and possible consumer shortages of fuel. Nationally, the average price of a gallon of regular gasoline on Thursday morning jumped 5 cents from the day before, to $2.45, the highest price of the year, according to the AAA motor club. And contracts for September wholesale deliveries rose 25.5 cents a gallon, signaling the worst is yet to come. Experts said prices at the pump could easily rise an additional 30 cents a gallon.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Fuel Shortages
Filled the diesel truck with fuel. Chevron price jumped 10 cents overnight after being in a price coma
for I can't remember, seems like years. The "Love's" truck stops going up too. MS Gulf Coast here.
After Katrina we fled the war zone to Destin, FL. Dodge 2500 truck holds 35 gallons. Bought some 5 gallon cans and put them under tarps in the back bed. Labor Day 2011 drove North into Alabama/Andalusia looking for diesel fuel from recommendations the internet friends my step son had. Bought a few cans. Price per gallon was around 4 dollars plus. Set us up like a B-17 bomber. 35 in the tank and 25 in cans. Ride into the war zone, do whatever, and ride out. Like flying to Berlin and back on a bombing run.
That CAT 5 Irma gets anywhere near New Orleans it's done, over, finished, forget about it. Could not handle 8 to 10 inches rain a month ago and that did not include any wind. Liberal doofus Mayor spends 2 million taking down statues, pumps discovered non operable, in pieces, with no electrical power if they were operable. And it's hurricane season. I can't explain it.
Sorry for going long. Houston/Texans have the "can do" spirit and will get through this. Send back the
"Cajun Navy". We might need them big time next week.
Harvey is so MEGA it scares me. Irma might finish us all off.
for I can't remember, seems like years. The "Love's" truck stops going up too. MS Gulf Coast here.
After Katrina we fled the war zone to Destin, FL. Dodge 2500 truck holds 35 gallons. Bought some 5 gallon cans and put them under tarps in the back bed. Labor Day 2011 drove North into Alabama/Andalusia looking for diesel fuel from recommendations the internet friends my step son had. Bought a few cans. Price per gallon was around 4 dollars plus. Set us up like a B-17 bomber. 35 in the tank and 25 in cans. Ride into the war zone, do whatever, and ride out. Like flying to Berlin and back on a bombing run.
That CAT 5 Irma gets anywhere near New Orleans it's done, over, finished, forget about it. Could not handle 8 to 10 inches rain a month ago and that did not include any wind. Liberal doofus Mayor spends 2 million taking down statues, pumps discovered non operable, in pieces, with no electrical power if they were operable. And it's hurricane season. I can't explain it.
Sorry for going long. Houston/Texans have the "can do" spirit and will get through this. Send back the
"Cajun Navy". We might need them big time next week.
Harvey is so MEGA it scares me. Irma might finish us all off.
Re: Fuel Shortages
Any of you that live in Florida should get out before Irma hits. A Cat 5 hurricane will destroy EVERYTHING in its path. We should all be watching Irma carefully.
Susan told me that she will never stay for a hurricane again. This week was extremely frightening. Last Sunday night the "Judge" that runs Fort Bend county got on televisions and scared the hell out of all of us. He said if the river crested at 59 feet the levees would not hold and all of Sugar Land would be flooded with water over most roofs. Then he told us that all roads out of the area were flooded and we were trapped. Not a good message.
The river crested at 55.2 feet today and the levees did hold. We are extremely blessed to live in a neighborhood where the pumps kept running. Neighborhoods on both sides of us had water in the streets and many homes got water inside.
Susan told me that she will never stay for a hurricane again. This week was extremely frightening. Last Sunday night the "Judge" that runs Fort Bend county got on televisions and scared the hell out of all of us. He said if the river crested at 59 feet the levees would not hold and all of Sugar Land would be flooded with water over most roofs. Then he told us that all roads out of the area were flooded and we were trapped. Not a good message.
The river crested at 55.2 feet today and the levees did hold. We are extremely blessed to live in a neighborhood where the pumps kept running. Neighborhoods on both sides of us had water in the streets and many homes got water inside.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group