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Impact of Rita on Gasoline Prices
Posted By Jim On 09/22/2005 @ 12:25 pm In Personal Finance | No Comments
It’s predicted by practically everyone that’s capable of reading the legend of this CNN map  that the price of gas is going to go up. By 1AM Sunday, according to NOAA’s prediction of its path, there will be seventeen large refineries and twelve small refineries within its influence, not to count the number of offshore refineries not represented in this map. According to Michael Schlacter, the chief meteorologist for Weather 2000, it doesn’t even matter where Rita makes landfall because “Anywhere within 60 miles of the eye will get clobbered.” Comparatively, Katrina shut down fifteen refineries which represented 3.3 million barrels a day of refining capacity. Read the full CNN article for yourself … they (and Peter Beutel of an energy risk management firm named Cameron Hanover) are predicting $5 a gallon!
Perhaps this will spur on more discussion of our heavy reliance on petroleum (rather this than some terrorist event/attack, right?). Read onward for a list of specific refineries affected and their typical outputs:
* BP Products North America, Inc., Texas City 437,000
* Valero Refining Co. Texas City, 209,950
* Valero Refining Co.,Houston 83,000
* Marathon Ashland Petroeum LLC, Texas City 72,000
* ExxonMobil Refining & Supply Co., Baytown 557,000
* ExxonMobil Refining & Supply Co., Beaumont 348,500
* Lyondell Citgo Refining Co. LTD, Houston 270,200
* Motiva Enterprises LLC, Port Arthur 285,000
* Premcor Refining Group Inc., Port Arthur 255,000
* Total Petrochemicals Inc., Port Arthur 233,500
* ConocoPhillips, Sweeny 229,000
* Crown Central Petroleum Corp., Pasadena 100,000
* Deer Park Refining LTD Ptnrshp., Deer Park 333,700
… for a grand total of 3,413,850 bpd.
This list was compiled by Steve Verdon at OutsideTheBeltway  and he provides further analysis.
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 this CNN map: http://i.cnn.net/money/popups/2005/news/rita_map/map.gif
 Read the full CNN article for yourself: http://money.cnn.com/2005/09/22/news/economy/rita_threat/index.htm?cnn=yes
 Steve Verdon at OutsideTheBeltway: http://www.outsidethebeltway.com/archives/12078
Thank you for reading!