Wednesday, August 22, 2012

This Can't POSSIBLY Be Good...

Joseph in IL sends in a story that does not bode well for already-high gasoline prices...

BP Recalls 2 Million Gallons Of Gasoline Distributed From Northwest Indiana
CHICAGO (CBS) – Thousands head across the state line to Northwest Indiana for a cheap fill-up, but now, BP is recalling two million gallons gallons of bad gasoline there.
And as CBS 2’s Susanna Song reports, you could be affected even if you didn’t fill up at BP.
Gee, I wonder what this is going to do to gasoline prices? BP's really taking it on the chin, between the Gulf spill and now a bad formulation affecting thousands across the midwest. Now that the news is out, expect hundreds of claims, possibly more - and it's unlikely that BP is going to absorb all that cost themselves. Even if they do, they're going to have to tool up production to replace gasoline rather than add new gasoline into the supply stream - with decreased supply comes increased prices.

It's interesting, though, that "skyrocketing" gas prices don't seem to be an issue this campaign season. Neither are soldier deaths overseas, or the stock market - well, until it gained a massive 74 points the other day, that is. The homeless have completely and utterly ceased to exist, and global warming is only still an issue because those evil Reublicans keep buying SUVs... The only real problems we're currently facing are the ZOMG EBIL GUNS AT GUN SHOWS and GLOBAL WARMENING - ignore that double digit unemployment and rampant inflation, of course...

I imagine if Mittens manages to eke out a win in November that we'll be besieged by stories about how gas prices are forcing people to ride bicycles to military funerals while passing millions of homeless people drowning in polar ice cap melt...

That is all.

4 comments:

Paul, Dammit! said...

Jay- to appreciate the volume of gasoline that is transported hourly, I'll just say this- a small tank barge contains more gasoline than you're talking about here.

JD Rush said...

Did you notice the political dig at those trying to avoid the asinine gas taxes in Chicago? Glad they aren't biased or anything.

Ken O said...

Agreed. We're only talking 6500 short tons. To put this in perspective, a tanker will carry upwards of 65,000 tons.

Anonymous said...

Plus, I would bet it is not actually bad gas but illegal gas. In other words, gas not specifically formulated for NW Indiana but rather for SW Indiana or some such. The EPA mandates dozens of individual gas formulas for various areas. So all BP would need to do is to transport it to wherever it is legal.