As I write this, CNBC has just teased another story on the so-called "Gas Crisis."
Within the last hour or so, they interviewed a gentleman who represents the association of gas station & convenience station owners.
CNBC's interviewer repeatedly tried to get the guy to say we have a "Gas Crisis." The interviewee's take was that this is not a Gas Crisis as there is plenty of gas, however there is trouble getting product to retail in the disaster-stricken areas. There is additionally a run on gas in those areas (the word "run" is mine, the interviewee instead talked about people not wanting to be short of gas in their cars, plus an increased demand for generators).
Of course, to CNBC, this is now a Gas Crisis. In election season, thanks, guys!
Apologies for the briefness of this diary -- I'm somewhat hurried as well as not good at finding this morning's transcripts on CNBC. Someone else who wants to improve with a better diary on this story, have at it.
While writing this, we now have John Hofmeister, Former Shell Oil Company President and Author of "Why We Hate the Oil Companies" on CNBC, suggesting that the situation could be greatly improved by instituting a temporary rationing situation -- he names 8 gallon maximum or even/odd fill ups.
"There is enough inventory to take care of immediate needs" Hofmeister says ... the issue is getting the inventory to the point of purchase and then the fact that pumping needs electronics working.
