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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (109644)	9/17/2008 11:38:38 AM
From: Broken_Clock	1 Recommendation Read Replies (1) \| Respond to of 206131

S Gasoline Stocks Lowest On Record Dating To January 1990Font size: A \| A \| A 11:07 AM ET 9/17/08 \| Dow Jones NEW YORK (Dow Jones)--U.S. nationwide gasoline inventories were the lowest on record dating to January 1990 in the week before Hurricane Ike became the second major storm to hit the key Gulf Coast refining region this month, the Energy Information Administration said Wednesday. Latest data show that in the week ended Sept. 12, gasoline stocks were 184.634 million barrels, down 1.8% from a week before and 5.9% below a year ago. EIA said the stocks were "below the lower boundary of the average range" of the past five years. Concerns over tight gasoline stocks led the federal government to issue waivers from environmental standards in several southeastern and Gulf states to expand the pool of gasoline that can be sold. Refineries were shuttered or reduced operations first when Hurricane Gustav hit the Gulf Coast on Sept. 1, and many were forced to close ahead of Ike. Loss of power at many Gulf Coast refineries is keeping facilities shut, and pipeline slowdowns or closures have spread the Gulf problems to the Midwest and to the Southeast, where retail gasoline prices jumped above $4 a gallon this week. As much as 20% of U.S. refining capacity, when measured against operable capacity, has been closed. EIA reported refineries nationwide processed 13.237 million barrels a day of crude oil in the latest week -- the lowest level since Oct. 7, 2005, when the industry was recovering from damaged caused by hurricanes Katrina and Rita. Prior to the storms, refiners were running crude at a rate of 15.2 million barrels a day. Nationwide, refiners used just 77.4% of capacity of 17.61 million barrels a day, EIA data show, also the lowest since the 2005 hurricanes. -By David Bird, Dow Jones Newswires, 1-201-938-4423; david.bird@dowjones.com