Anti Federalist
04-26-2008, 07:37 PM
(Mods, I know, wrong forum, but let this get a few reads first. Thanks.)
Time for another alarmist post.
Starting Sunday, unless talks resume, 1200 men will walk out of the Grangemouth, UK oil refinery and go on strike, effectively shutting down this refinery.
Now, "what's the significance of the loss of one refinery?", you ask.
The significance is that this refinery is at the end of a major pipeline running from the North Sea offshore fields. By shutting it down, it will force production "downstream" to shut down as well, shutting off roughly one half of all UK North Sea production.
In today's speculative oil market, combined with a weak dollar, combined with yet another Iraq pipeline attack, combined with production cuts in the US as refineries switch from winter to summer operations, all working together to create a "perfect storm" of speculative frenzy.
I'm in the oil business and that's how I see it.
So, tomorrow or as soon as possible, fill your tanks, if you heat with oil or use propane, fill those tanks as well.
Just a heads up.
Refinery strike will shut half North Sea oil output
DOUGLAS FRASER, Scottish Political Editor April 25 2008
The strike at the Grangemouth refinery will force the closure of a pipeline that delivers nearly half of the UK's daily North Sea crude oil output, at a cost to the economy of £50m a day.
Ministers at Westminster and Holyrood raised fears about the impact on oil production, as businesses and motorists prepared for disruption to fuel supplies.
Up to 1200 workers will walk out on Sunday and Monday in a bitter row over pensions between Unite members and the refinery's owners, Ineos.
The breakdown of talks in the dispute on Wednesday night brought an increase in panic buying yesterday, despite calls from ministers for drivers to stick to their normal refuelling patterns.
Alex Salmond told Scots not to make unnecessary car journeys and to use public transport where possible.
The impact on oil production comes from the Forties pipeline network which faces a shutdown from tomorrow, cutting Britain's crude oil output by nearly half.
http://www.theherald.co.uk/mostpopular.var.2224320.mostviewed.refinery_strike _will_shut_half_north_sea_oil_output.php
http://news.bbc.co.uk/1/hi/business/7366896.stm
http://news.yahoo.com/s/afp/20080426/wl_uk_afp/britainoilstrikerefining
Time for another alarmist post.
Starting Sunday, unless talks resume, 1200 men will walk out of the Grangemouth, UK oil refinery and go on strike, effectively shutting down this refinery.
Now, "what's the significance of the loss of one refinery?", you ask.
The significance is that this refinery is at the end of a major pipeline running from the North Sea offshore fields. By shutting it down, it will force production "downstream" to shut down as well, shutting off roughly one half of all UK North Sea production.
In today's speculative oil market, combined with a weak dollar, combined with yet another Iraq pipeline attack, combined with production cuts in the US as refineries switch from winter to summer operations, all working together to create a "perfect storm" of speculative frenzy.
I'm in the oil business and that's how I see it.
So, tomorrow or as soon as possible, fill your tanks, if you heat with oil or use propane, fill those tanks as well.
Just a heads up.
Refinery strike will shut half North Sea oil output
DOUGLAS FRASER, Scottish Political Editor April 25 2008
The strike at the Grangemouth refinery will force the closure of a pipeline that delivers nearly half of the UK's daily North Sea crude oil output, at a cost to the economy of £50m a day.
Ministers at Westminster and Holyrood raised fears about the impact on oil production, as businesses and motorists prepared for disruption to fuel supplies.
Up to 1200 workers will walk out on Sunday and Monday in a bitter row over pensions between Unite members and the refinery's owners, Ineos.
The breakdown of talks in the dispute on Wednesday night brought an increase in panic buying yesterday, despite calls from ministers for drivers to stick to their normal refuelling patterns.
Alex Salmond told Scots not to make unnecessary car journeys and to use public transport where possible.
The impact on oil production comes from the Forties pipeline network which faces a shutdown from tomorrow, cutting Britain's crude oil output by nearly half.
http://www.theherald.co.uk/mostpopular.var.2224320.mostviewed.refinery_strike _will_shut_half_north_sea_oil_output.php
http://news.bbc.co.uk/1/hi/business/7366896.stm
http://news.yahoo.com/s/afp/20080426/wl_uk_afp/britainoilstrikerefining