Is this the moment
Out of context: Reply #55
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10% is still a huge chunk of an industry that is already overburdened. Source oil isn't the problem at the moment, refining the stuff is.
Let me clue you in - the US economy is running on fumes and the kindness of the Chinese to cover our debts.
A major shock to the flow of refined oil - and yes 10% for a few months is significant - could throw everythign outta whack. Add on the typical human emotional reaction - and we have one huge problem.
Further - New Orleans IS THE major seaport in the Southern US - and on eof the busiest. With it out of commission expect problems up and down the material/wholesale/retail chain - as transportation costs of said material increase as well.
Oh, and 90% of the South East gets it's refined gas that runs from Houston, through New Orleans along the Gulf Coast Guess what has run dry people.
Not pretty.