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Hurricane Sandy forcing wave of oil refinery shutdowns

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  • Description

    Will East Coast see spike in gas prices?

  • Duration 1:43
  • Date

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This transcript is automatically generated

Also refineries along.

The East Coast.

Shutting down one after another former Shell Oil president John -- what does this mean and how widespread will this be -- Quality starts south -- there's no real problem for Virginia all the -- -- about Baltimore because they're supplied by golf.

Of Mexico pipelines so -- no problem with distribution -- then if the electricity is out retail gas stations can't pump gas down in Florida.

Gas stations are required to have generators.

For just this kind of a reason but that law doesn't exist except -- As you go north in Pennsylvania.

New York Connecticut etc.

The fact that the refineries are shut down is not the problem because there should be about three to four weeks of inventory on hand.

The real problem is that distribution.

If the highways are closed as you just said you can't distribute if the retail stations don't have.

Electricity they can't pump for the retail customer.

You're likely to see a spike in price at least temporarily until things get back to normal what I think prices will generally come back there to -- The normal say.

But the real issue here is people -- -- will be reminded how essential gasoline is to every day life and when you can't get it.

That's the availability issue when you can't get it you panic when you panic you'll go anywhere to get a tank a gas.

That'll lead to gas lines that a lead to a lot of people getting very.

Very unfriendly with one another because when -- scarce.

People are desperate they'll they'll do strange things so this is not a good -- -- Part it is not -- -- -- our sponsor Bob thank you very very much for those.

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