Thursday, March 24, 2005

This is gonna hurt

14 dead and what ya get, high gas prices and deeper in debt. An oil refinery explosion in Texas killed 14 people. The long term effect is that these guys are dead. The short term effect is that since the explosion took place in the refinery's isomerization unit, which refines octane for gasoline, look for gas to go to $3.00 per gallon this summer. Gas costs in this country are closely tied to refinery capacity.

UPDATE: This refinery produces 3% of all of the gas used in the US.


fantababy said...

ur blog has interesting posts!

Phlip said...

Thanx Fantababy, believe it or not I have a few friends here in Columbus that are from your part of the sphere.