Because Hurricane Ike has blown out power to much of the Texas coast, the nation’s largest refinery — the Exxon Bayless facility, which can produce over 500,000 barrels a day — will be out of commission at least until September 30th.
That’s according to the WSJ, which adds in conclusion:
So while the economy is cheering crude’s plunge below $100, that won’t
trickle down to retail gasoline prices for several more weeks at least.
If nothing else, that might help keep Congress’ eye on the ball as it tries to salvage some sort of energy package.
The story doesn’t call for a specific action, but clearly strikes an anti-Congress tone. The Journal has always been known for its activist editorial page, but I don’t recall that pointed a political remark in a business news story before.
The paper also has undergone a radical web design, dropping its association with the iconic white-space design of the newspaper.
Hmmmm.
[pic courtesy of Linbow. She tells about it here]
Kit Stolz 