{"id":197256,"date":"2008-02-19T18:02:00","date_gmt":"2008-02-19T23:02:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/02\/19\/oil-above-100-following-refinery-explosion\/"},"modified":"2008-02-19T18:02:00","modified_gmt":"2008-02-19T23:02:00","slug":"oil-above-100-following-refinery-explosion","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/02\/19\/oil-above-100-following-refinery-explosion\/","title":{"rendered":"Oil Above $100 Following Refinery Explosion"},"content":{"rendered":"<p>While oil has broken $100 in the course of a trading day, this is the <a href=\"http:\/\/ap.google.com\/article\/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD8UTJFM00\">first time that it has closed above $100<\/a>, $100.01\/bbl, with a peak of $100.10 hitting in the middle of the day.<\/p>\n<p>Gas is above $3.00 again.<\/p>\n<p>I understand how a refinery fire can get gasoline prices to jump, but I am not sure why the explosion and fire at Alon USA&#8217;s Big Spring, Texas, refinery would drive up <span style=\"font-weight:bold;\">oil<\/span> costs.  It seems to me that a reduction in refinery capacity would reduce the demand for oil.<\/p>\n<p>Perhaps this facility is one of those tuned to the Venezuelan &#8220;sour&#8221; crude, and so it&#8217;s increased demand for light sweet crude.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While oil has broken $100 in the course of a trading day, this is the first time that it has closed above $100, $100.01\/bbl, with a peak of $100.10 hitting in the middle of the day. Gas is above $3.00 again. I understand how a refinery fire can get gasoline prices to jump, but I &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1135],"tags":[],"class_list":["post-197256","post","type-post","status-publish","format-standard","hentry","category-economy","category-energy"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197256"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=197256"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197256\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}