Wednesday, August 31, 2005
Kena by Katrina, so our pump prices go gila... yeah right!

This week, Hurricane Katrina hit the Gulf of Mexico hard. 30% of its oil production facilities were halted. This sent oil prices rocketing. But does this make any sense? Lets crunch some numbers. The world's top 20 oil producers contribute about 90% of our oil supply, 7.5% of this comes from Mexico. This is about 6.8% of the world's supply. It has been reported that about a third of the facilities are disrupted by the hurricane, this brings the percentage of oil supply interrupted by the hurricane to only 2.3% of the world's oil supply. Someone just needs to turn their oil tap a little more and voila, all settled. I'm sure there are a lot of someones out there turning their taps and using Katrina as an excuse to rob us common peasants off out daily bread. 2.3% of the world's oil supply interrupted by a stupid hurricane and out prices shoot up by 10%! I really wonder whose ass they pull this logic out of! Well, at least my friend Swee Kian had it figured out. He's cycling back from Finland... no need any oil for that. That'll teach those bastards!

# Crapped by Toadjuice on 8/31/2005 04:12:00 pm