Looks like the Mississippi River flooding is compounding and now threatens Louisiana especially New Orleans and the Refineries and Gulf’s Intercoastal Waterway (GIWW) barge shipments. GIWW Oil products, petcoke & coal barge shippments to power plants (already impacted Tenn) may be closed for several weeks at minimum.
Wallstreet Speculators and non-industry oil traders will use it as excuse to spike prices way above fundamental impacts on Supply & Demand (which were already suspect at todays $4/gal). Perhaps if Congress follows Redding’s line thought/action some regulation can finally be made as opposed to useless Democratic dog/pony show of pilloring Major Oil Execs that everyone knows does nothing.
If you haven’t caught up with Rolling Stones Editor-Raibbi’s new article asking why Goldman Sachs Exec’s aren’t up on Fed Charges for lying under oath, since its SOP for even Baseball players lying about taking Steriods & President Bill Clinton. Raibbi is famous for first article catch phrase ” Goldman Sach is Blood Sucking Vampire Squid wrapped around face Humanity, Rentlessly jamming its blood funnel into anything that looks like money”! The Vampire Squid has now become a cartoon de facto Mascot for Goldman! Turns out it really exist & the image was first used on Standard Oil (Big Oil) to denounce it before it was broken up into 7 sisters (~parent for most today’s US Major Oil Companies).
Regards
