Alabama, Tennessee, & Georgia Declare States Of Emergency As Gas Shortages Loom After Pipeline Leak
(Or, Why East Coast Gasoline Prices Are About to Explode) via Zero Hedge
The governors of Georgia, Tennessee, and Alabama have declared states of emergency, not due to environmental concerns, but over the gas shortage that will result from the leak. After Colonial Pipeline announced Thursday there would be a delay in restarting the pipeline because “work activity was intermittent overnight due to unfavorable weather conditions that caused gasoline vapors to settle over the site,” the price of gasoline futures rose six percent… even as crude futures prices tumbled…Though the leak reportedly poses no danger to the public, officials say it stands to affect drivers all along the I-95 corridor from Florida to Maine.
We ought to track this story closely as a case study for everything that is discussed here. Perhaps a dedicated thread?
Let the hoarding begin!
As a farmer diesel is stored for convenience, and as a hedge. I would be reluctant to store very much gasoline.