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Following Harvey Fuel Shortages Appearing

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Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
The two biggest refineries in the US, Baytown and Port Arthur, are closed, no or minimal power, pipelines down. Now, fuel shortages are tarting to pop up. DFW area already have stations with no fuel, prices jumping.

Impact is going to last for quite a while.
 

Michael S

Senior Member
Joined
Mar 18, 2009
Professional Status
Certified General Appraiser
State
New Mexico
Two solutions: price fixing or supply and demand

With the former you can pretty much ensure that all fuel will be sold quickly and the disruption will last longer. On the other hand if you let the market price gasoline at $5 a gallon (or whatever it may be) those who really need it will pay for it, and those who don't will decrease their usage and the supply will last longer. In addition, gasoline suppliers will find ways to get more gasoline to gas stations if there are larger profits available. It might not make sense to drive a tanker truck full of gasoline from a distant market but if the price rises high enough it will happen. If given the choice between gas costing $5 a gallon, or no gas, I know which one I would pick. I might delay that inspection on the other side of the state that was 680 miles round trip though.
 

techbiker

Sophomore Member
Joined
Dec 4, 2015
Professional Status
General Public
State
Texas
It's pretty bad and mostly state-created unfortunately with threats of $25,000 fines for "price gouging". Texas has 230 million barrels of gasoline, yet it doesn't make sense for extra trucks to deliver longer distances if prices aren't allowed to rise. Higher prices are the solution to higher prices in a free market.
 

miktay

Senior Member
Joined
Jul 3, 2007
Professional Status
Certified Residential Appraiser
State
Texas
Here in central Texas, the Sheeple who live and die by their social media accounts all listened to their "Friends" who told them that there was a gas storage. Then they all decided to get gas at the same time yesterday, which actually did cause a temporary shortage. According to the officials, there is no shortage at this time.
I just turned on the NBC Today show , and they found some lady in the gas lines, who was literally in tears because her gas station was temporarily out of gas. I'm sure people will see her tears and continue flocking to the gas station today.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
They say over one million cars were under-water and toast .. sounds like a lot of vehicles taken off the roads ?

Good news for the auto makers.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
Good news for the auto makers.
Also great news for tow truck operators in the area and auto junk yard owners....those guys are all going to have all the business they can handle for a while
 

Michael S

Senior Member
Joined
Mar 18, 2009
Professional Status
Certified General Appraiser
State
New Mexico
I was looking at some older news articles after Superstorm Sandy and they were talking about gasoline prices rising $.07 - $0.10/gallon, while falling in other parts of the country, and how this was obviously price gouging. One article the author talked about how they would rather wait in line for hours to get gas at a normal price than be subject to "price gouging". If it cost me $60 to fill my tank instead of $30 and I don't have to wait in line for hours that's a pretty easy decision to make.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Stuff happens. If Irma tracks Harvey, look for much worse
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Scott Kibler reported on facebook he had to drive 20 miles to find gas. Working FEMA. I think he's in S Texas
 
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