Posted September 8, 2017
1. Industry Does Not Condone Price Gouging
2. Gasoline Stations are largely owned by mom-and-pop retailers
3. Supply and Demand Influences Prices
Posted September 7, 2017
As the Texas-Louisiana region continues its recovery from Hurricane Harvey, energy companies are making preparations for Hurricane Irma, which the National Hurricane Center projects could make landfall in Florida on Sunday. The big issue in Florida is consumer access to fuel. Companies are working with state and federal officials to meet needs.
Posted September 6, 2017
The U.S. Energy Information Administration (EIA) reports on rising gasoline prices in the wake of Hurricane Harvey and notes that the storm’s impact on prices is similar to the big hurricanes of 2005, Katrina and Rita. … EIA’s report underscores a number of points we’ve been making about the oil supply chain, of which the Texas-Louisiana region is part – especially the section of that chain that shows the path of refined products from refineries to retail outlets – and the need for patience as processes come back online.
Posted September 5, 2017
Before then-Hurricane Harvey first made landfall, we discussed how mega-weather events historically have impacted the regional/national oil supply chain and supply levels in the marketplace. The uncertain path of Hurricane Irma will drive continued conversation about storm effects on refineries and other energy infrastructure and the potential for market impacts around the country. That’s the context for some basics about the fuel marketplace and the processes that bring finished consumer products from refineries to retail outlets.
Posted August 31, 2017
The Gulf Coast area impacted by Hurricane-Tropical Storm Harvey faces a long recovery road, with thousands displaced and so many neighborhoods and workplaces inaccessible due to floodwaters. Humanitarian relief efforts are under way, but there’s much work to be done. While Americans across the country are concerned about the human toll left by Harvey, we’re particularly mindful of thousands of colleagues in the natural gas and oil industry who work and live in affected areas. In that light, it’s a glimmer of good news that a few of the refineries forced to shut down because of the storm are starting the complex process of restarting – six as of Thursday morning, according to the U.S. Energy Department, with a combined capacity of more than 1.2 million barrels per day or about 4.2 percent of total U.S. refining capacity.
Posted August 31, 2017
President Trump’s call for tax reform this week, kicking off the administration’s push for pro-growth measures to spur investment, create jobs and raise earnings is one we can certainly understand. The president said:
“We need a competitive tax code that creates more jobs and higher wages for Americans. It’s time to give American workers the pay raise that they've been looking for, for many, many years. … If we do this, if we unite in the name of common sense and the name of common good, then we will add millions and millions of new jobs, bring back trillions of dollars, and we will give America the competitive advantage that it so desperately needs and has been looking for for so long. It’s time.”
No argument here. The natural gas and oil industry is about economic growth: investing, creating jobs and boosting worker pay for years – on the way to supporting 10.3 million jobs while adding $1.3 trillion to the national economy and aiding growth across all 50 states.
Posted August 30, 2017
Industry is focused on keeping the domestic market for fuels and other refined products well supplied. It’s also committed to continued safety when it’s appropriate to restore operations at facilities that have been shut down – working closely with state and federal officials on the scene.
Posted August 29, 2017
As the Houston and Louisiana areas brace for more rain in what is one of the biggest rain events in U.S. history, President Trump and the First Lady visited Corpus Christi to see storm impacts in person. The Gulf Coast is one of the United States’ key energy centers, where a number of natural gas and oil companies operate and where thousands of their employees live, and his visit drew praise and appreciation from Texans gathered at a fire station for his remarks.
Posted August 29, 2017
The pro tennis U.S. Open getting under way this week in Queens, N.Y., is more than a sporting event. It’s a living museum, too. The hollowly thwack of racket hitting ball, echoing in the hard-court canyon of Arthur Ashe Stadium, conjures memories of past greats like Ashe and Billie Jean King, Jimmy Connors, Chris Evert, Roger Federer and many others. All authored key chapters to their legends at the open, many doing so under the lights at Flushing Meadow, where summer often gives way to fall during the tournament’s fortnight.
The U.S. Open is lightning-fast asphalt courts, power tennis and epic, late-night matches that stretch to five sets. It’s also energy – energy that makes tennis today a much improved game and spectator event compared to the tennis when Richard Sears won the first open in 1881, no doubt looking something like the image here.
Better rackets, better shoes, better playing surfaces and conditions – better tennis wear (sorry, Richard) – all assisted by contributions from natural gas and oil. America’s energy abundance supports virtually every aspect of modern living – work, home life, health and recreation – including tennis.
The Arthur Ashe Stadium, the open’s home the past 20 years, illustrates. The stadium’s retractable roof lets matches continue even in inclement weather. When it’s raining outside, more than 22,000 who fill the stadium can thank natural gas for keeping them and the tennis dry.
Posted August 28, 2017
In the aftermath of Hurricane Harvey, the primary focus along the Texas Gulf Coast is on search and rescue efforts and – with expectations that more flooding is ahead – providing shelter and other basic needs for those displaced by the storm and its effects. Energy companies, which themselves have thousands of employees living in the area, are helping support organizations such as the Red Cross, the United Way of Houston and others that provide emergency services. Meanwhile, the storm’s impacts on one of the country’s key energy centers are being reckoned.