Page 85 - Refining Capacity News Today

Have the opportunity to do that. >>neil: i will review my favorite flavors so when you go to the grocery store you can load up. prefer, -- professor, thank you. if tampa does not get a direct hit the gulf will. so forget about mitt romney. you will look at the hit. at the pump. bill? >>guest: you bet. there is still 40 percent of the refining capacity in the line of the storm so gas price could go up 5 cents to 10 cents and people in florida are already bying gas so it is impacting demand. you c...

Prices are rising sharply. bill: now to the why. does it have to do with iran or is it more than that? >> yes it does have to do with iran and has to do with the refining capacity. another point i have to make, bill, well see more of this. there is spike over the weekend, it is not over. the price of oil gone to $105 a barrel in part what is happening with iran. that oil price is not yet factored into the pump price. it will be and some prices will go up more. bill: some experts say we could be ...

Cents as we move towards memorial, the peak around $4 a gallon. here in the northeast where much more refining capacity is now offline, we could be approaching, some are saying, five add gallon. keep in mind, we have been here before. we only reached $4 a gallon for regular unleaded back in 2008. not last summer when they said we would. jon: you and jenna just talked about it, $4 gas by memorial day. any reason to think it wont happen? >> there is phil flynn, a fox business analyst, as well as a...

That clearly is part of the gas price rise but so too also is the fact that driving demand picks up in the spring. that adds to demand, tends to raise the price. another big factor the government-imposed switch on refineries going to a different blend for gasoline in the summertime, a more expensive blend. that also puts the price up. there is also politics, gregg, got to remember that. there is the perception here that president obama is anti-oil. and that he is not doing much to boost domestic...

Gas pump is not something they want do. >> heres my nervousness though. if we tell that story, the increase. theres tons of oil available there in north dakota, no one lives there. lets go frack it on out. isnt that notion that oil directly out of natural resources is not quite the answer to gas prices at the pump? there are like three or four or 10 or 15 steps. >> theres not enough refining capacity, havent built a new refinery in how many years. most of our oil comes from canada, not saudi ara...

Might be nearby where its concentrated. i do know theyre spraying water on the methane at the surface to help dissipate some of the gases that youre talking about that could be toxic. >> last question. and ill let you go. theres a stack of both oil refineries and power generation refineries along the perimeter of the gulf of mexico. my understanding is between alabama, mississippi, and louisiana 19% of all refining capacity is in. total gulf coast refineries threatened, im told, 51%. also 19 the...