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How much do you think we'll be paying for fuel now?

Submitted: Friday, Sep 02, 2005 at 08:06

Member - Ian B

AFX News Limited
Twenty oil rigs missing in Gulf of Mexico - Coast Guard
08.31.2005, 08:38 PM

WASHINGTON (AFX) - At least 20 oil rigs and platforms are missing in the Gulf of Mexico and a ruptured gas pipeline is on fire after Hurricane Katrina hit the region, Agence France-Presse reported, citing a source from a US Coast Guard unit operating in the area.

'We have confirmed at least 20 rigs or platforms missing, either sunk or adrift, and one confirmed fire where a rig was,' Petty Officer Robert Reed told AFP.

The missing rigs were in the Gulf of Mexico, Reed said, citing Coast Guard overflights of the area and information from oil companies.

He could not confirm the location of the blaze but said it would 'eventually burn out' and no fire-fighting intervention was needed.

'We are of course working on the environmental side of things but right now we are still concentrating on search-and-rescue missions to save as many lives as possible on land,' said Reed, whose Coast Guard unit has been evacuated from the flooded city of New Orleans to Alexandria, Louisiana.

According to the latest tally Wednesday from the federal Minerals Management Service, a total of 561 platforms and rigs have been evacuated in the Gulf of Mexico, which accounts for a quarter of US oil production.

Over 91 pct of normal daily crude oil production in the Gulf -- 1.5 mln barrels -- is now shut down, and more than 83 pct of natural gas production, the MMS said.

Among the firms reporting missing rigs was Newfield Exploration Company, which said an aerial survey of its operations in the eastern Gulf showed that one of its platforms at Main Pass 138 'appears to have been lost in the storm.'

'As of this morning, boats and helicopters are mobilizing to better access damages, identify any environmental impacts and begin the repair process,' Newfield said in a statement.

Noble Corp said its semi-submersible rig Noble Jim Thompson, which was contracted to a unit of Anglo-Dutch giant Shell, had broken loose and was 17 miles adrift of its normal Gulf location.

Shell's Mars platform was said by analysts to have suffered 'extensive damage'.

'Some of our facilities have been damaged and production is halted while we begin assessments and run checks,' Shell chief executive Jeroen van der Veer said.

On shore, at least eight refineries have been shut down on the coasts of Louisiana and Mississippi since Katrina roared ashore early Monday just east of New Orleans.

Many other refineries are struggling to cope with shortfalls of crude caused by the closure of major port terminals and pipelines from evacuated and missing rigs in the Gulf of Mexico.

In response, the US government prepared Wednesday to open its emergency oil reserves for the first time in a year to keep supplies running to those refineries still operating.
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ThreadID: 26060 Replies: 8
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AnswerID: 127877   Submitted: Friday, Sep 02, 2005 at 08:32

Matt (W.A.) replied:

Hmmmmm.....
Who is this masked Man????

Lol

Matt............
Reply 1 of 8
AnswerID: 127885   Submitted: Friday, Sep 02, 2005 at 09:20

Truckster (Vic) replied:

start buying KY in bulk people....
Reply 2 of 8
FollowupID: 382495   Submitted: Friday, Sep 02, 2005 at 09:35

Alloy c/t posted:

Is,nt ky also a mineral oil based product ??? LOL.
FollowUp 1 of 3
FollowupID: 382618   Submitted: Friday, Sep 02, 2005 at 21:41

Brian B (QLD) posted:

Truckster,

Mate we won't be that lucky. It is probably a bloody by product of the oil industry. I think we're gonna cop it dry. BIG OUCH
Our 2004 Hilux SR5
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Cheers

Brian
FollowUp 2 of 3
FollowupID: 383028   Submitted: Monday, Sep 05, 2005 at 16:55

Truckster (Vic) posted:

Brian, you are probably right there...

have to drive to shintey in a few weeks, hoping I can get a car before then...
FollowUp 3 of 3
AnswerID: 127889   Submitted: Friday, Sep 02, 2005 at 10:15

Scubaroo replied:

Well gasoline has hit $6.07USD/gallon in parts of the US, which is $2.15 AUD/litre. Before the hurricane, gas prices were around the $2.50 USD mark I think?
Reply 3 of 8
FollowupID: 382583   Submitted: Friday, Sep 02, 2005 at 17:11

Tuff60 posted:

Scubaroo, I am in the US at the moment, those gas stations have been crucified on the news for scaring people into paying those prices, some have been charged with price fixing or something already. Bush may well acuse them of being terrorists.
Where I am in NY state, gas went from $2.65 up to $3.30 a gallon, some of this being it is the Labour day long weekend this weekend and like Melbourne, they like to hurt the motorist a little more before they go away.
Regular radio broadcasts say there is no danger of a gas shortage.

I am hoping it goes back down after the weekend, I have a V8 petrol F150 at the moment, if I left it running at the pump it would be impossible to fill.
FollowUp 1 of 2
FollowupID: 382610   Submitted: Friday, Sep 02, 2005 at 20:20

Jimbo posted:

Gas is about 40 cents per litre in Melbourne.

Petrol however is about $1.25, or should I have said a "buck and a quarter"?
FollowUp 2 of 2
AnswerID: 127892   Submitted: Friday, Sep 02, 2005 at 10:30

Kiwi Kia replied:

A lot of the oil platforms in the gulf are very small well head valve stations not much bigger then house size. On shore there are several oil refineries that are small and very old. Sounds like a good time to get insurance to pay for a rebuild. A news report saying xyz platforms have been lost does not give an accurate picture that you can make production predictions on, doesn't stop the so called experts crying that the sky is about to fall in though. We need to wait for more details.
Reply 4 of 8
FollowupID: 382595   Submitted: Friday, Sep 02, 2005 at 19:00

Member - Davoe (Widgiemooltha) posted:

I think the platforms every one thinks of when you say oil platform are pretty much cyclone and everything else proof (as much as something can be)
you dont need to leave perth to go bush
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You dont need to leave Perth to go bush
FollowUp 1 of 1
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AnswerID: 127931   Submitted: Friday, Sep 02, 2005 at 14:45

Member -Dodger replied:

My sources say $2.00 in the country before Xmas.

GULDARN IT.
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Give a man a fish and he will eat for a day. Teach him how to fish, and he will sit in a boat and drink beer all day.
Regards Dodg.
Reply 5 of 8
AnswerID: 127934   Submitted: Friday, Sep 02, 2005 at 14:47

Member -Dodger replied:

My sources say $2.00 in the country before Xmas.

Already $1.33 at Dubbo for an Oil Burner.

GULDARN IT.
Parked at Boroka Lookout
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Give a man a fish and he will eat for a day. Teach him how to fish, and he will sit in a boat and drink beer all day.
Regards Dodg.
Reply 6 of 8
FollowupID: 382596   Submitted: Friday, Sep 02, 2005 at 19:02

Member - Davoe (Widgiemooltha) posted:

approaching 1.40 here in kal at the dearer sites - gull is at 1.31
you dont need to leave perth to go bush
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You dont need to leave Perth to go bush
FollowUp 1 of 1
AnswerID: 127952   Submitted: Friday, Sep 02, 2005 at 16:12

Member - John (Vic) replied:

20 platforms out of about 6000 offshore facilities around the world does not make it the end of the world.
As said above most are very small platform facilities that service a small number of bottom well heads and they are very old.
The semi submersibles are exploration platforms and not production.

The short term shut down effect of supply to refineries will have a greater short term impact, hence the release of national reserves.

Canning Stock Route - June 2009
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Photo 1 - Canning Stock Route - June 2009
Photo 2 - Flinders Ranges - July 2009

VKS737 - Mobile 6352 (Selcall 6352)

Reply 7 of 8
AnswerID: 128039   Submitted: Friday, Sep 02, 2005 at 23:46

Alloy c/t replied:

Had a pre fathers day lunch with my ole man the other day [prior to the storm] ,we ended up disscussing fuel prices and how it seems to be out of hand ,blow me down but from his wallet he produced an old scrap of paper written by me in august 1970 , "Dad ,I bet you $10 that one day petrol will cost over a $1 a litre "....... the price of super petrol back then was 35 cents a gallon= 7cents per litre ,, my ole man paid me $10 and since New Orleans we now have a new bet " over $2 per lt before Jan 1st 2006 ,what are my odds of winning ????
Reply 8 of 8