Friday, February 19, 2021

Some FACTS About Gas Prices and Texas Storm

 Fake News is spouting all kinds of silliness about gasoline prices and oil production due to the storm.  So let's go to Watt's Up With That to check on things.

Is 'Permian Basin (TX) oil production down 18%?

Nobody actually knows.  Figures won't be released for a week.

...While I have little doubt that Permian Basin oil & gas production has been impacted by the deep freeze, I haven’t been able to find any hard data yet… But my Google searches keep linking back to variations of the Javier Blas article quoted above and other Bloomberg sources, which cite nothing that is verifiable....

Did Occidental deliver a 'force majeure' note to its customers?

Not confirmed.

Bloomberg says that Oxy delivered a force majeure notice to customers … But Oxy was too busy to confirm what Bloomberg told Fox Business. 

Too busy......what?  Stringing extension cords from New Mexico?

Are oil prices up due to the storm?

Yes they are, a bit. 

Whaddya mean, "a bit"?

Oil prices have shot straight upward SINCE THE ELECTION* PUTTING BIDEN* IN POWER.

Got it?

Are you surprised, Toodles?

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