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Angry and frustrated Mood
Sunday, August 31, 2008 | A Venting story

I am so angry and frustrated with the economy and the corporate and investor greed in this country! I just read a news report from Reuters and this is what it said

 

Over 96 percent of U.S. Gulf oil production and 82 percent of natural gas output had been closed as of Sunday afternoon, the U.S. Minerals Management Service said.

The Gulf normally pumps 1.3 million barrels per day (bpd) of oil, a quarter of all U.S. production, and 7.4 billion cubic feet of natural gas, about 15 percent of domestic output.

At least nine refineries with a combined capacity of 2.2 million bpd, or 12.5 percent of U.S. refining capacity, were being shut along the south Louisiana coast ahead of Gustav's projected arrival west of New Orleans on Monday.

Other refineries were reducing processing rates and further shutdowns were possible.

Hurricanes Katrina and Rita wrecked more than 100 oil platforms in 2005, shutting down a quarter of U.S. oil production and closing several large refineries for months. Analysts have warned Gustav could deal a harsher blow and potentially send oil prices up $10 a barrel or more.

The New York Mercantile Exchange opened its electronic trading platform earlier than normal on Sunday to allow traders to adjust positions ahead of the arrival of the hurricane.

U.S. crude oil futures were up $1.70 at $117.16 a barrel as of 4:35 p.m. EDT after rising as much as $3.14.

 

It is not enough for investors and profiteers to raise prices and gouge the common people durning the weekdays? Why do they have to open up the Mercantile Exchange on a Sunday just so they can increase prices????? Is there no limit to profiteering??

 

Will someone please tell me why this needs to happen?

 

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