Oil Prices Up As Blackout Shuts U.S. Refineries

LONDON (Reuters)

Oil prices have risen on fears of possible fuel shortages after three U.S. refineries were closed down by a massive blackout in the United States and Canada.

The shutdowns caused by the largest power failure in North American history added to concerns over already-low fuel inventories in the world's largest consumer. International benchmark Brent crude oil climbed 35 cents to $29.22 per barrel, while U.S. crude rose 41 cents to $31.50. U.S. gasoline futures led the charge, climbing 3.37 cents to 101 cents per gallon, its highest since the Iraq war. "The power blackout in the States seems to have stopped a couple of refineries and gasoline is much higher," said Tony Machacek at Prudential-Bache International in London. The blackout shut three refineries in the mid-West -- two large plants in Ohio and a smaller one in Detroit. These refineries are key to feeding the country's 10-million-barrel-per-day consumption of gasoline at a time of thin supplies. -

Banish bush From Texas Too

I guess it all revolves around one's definition of terrorist, doesn't it?

:evilgrin:
dbt

What we got is a real money-making adventure here! Kaaa-ching! Also an excellent jumping-off point to Marshall Law.

ANY excuse.

As long as we are willing to allow our country to be ransacked by these thugs we will pay a huge price. It is only the beginning. If we don't get America to wake up this blackout will seem trivial by the end of the decade.