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Hurricane Ike Threatens Fuel Prices
By EmploymentCrossing
As Hurricane Ike approaches, it’s bringing along storm clouds to your gas stations.
With the storm threatening the Texas coast, which is home to refineries and offshore rigs that account for over one-fifth of the nation’s refining capacity, companies will be forced to shut down operations.
Exxon Mobil, Valero Energy, and Marathon Oil will all have to suspend production as the hurricane is set to tear through the Texas gold coast.
Meanwhile, gas prices are expected to rise nearly 50 cents, as “panic buying” will set prices between $4 and $5 for those worried about a supply shortage.
Gas prices had dropped recently, and some relief was found at the pumps. But with Ike threatening the lives of those on the Gulf Coast, the rest of us looking to fill up our tanks will have to wait out the storm.
Click here to learn more about energy jobs in Texas.
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