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Northeast Louisiana Wholesale Oil & Gas’ Wes Loflin on Hurricane Isaac’s impact on oil prices.
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Isaak is threatening the energy industry it was 93%.
Of -- production in the Gulf of Mexico shut down I was just talking about that but why does -- matter.
To you if you are not in the storm's path because.
More than 40% of the country's refining capacity is located on or near that Gulf Coast.
Joining me now on the phone from Monroe Louisiana.
Is west -- he is ahead of northeast Louisiana wholesale oil and gas to supply about forty gas stations there two million gallons of fuel.
A month midwest -- -- skinny kind of an update what what are the conditions like right now there for you what is the mood -- people taking cover.
Are out whether right now all is fairly good appear in north Louisiana where in the northeast corner blue piano we are actually a little bit more traffic through our doors last night and this morning.
But in general we're not treat any large influx of people who've been out of chaplain -- yet to -- up -- -- -- the facilitated by -- -- evacuate huge.
A let's talk about the yield what this is gonna do for -- for gasoline supply and production obviously.
You are gonna have people they're gonna be trying to fill a -- are you saying a big rush of drivers because.
As we've been hearing from our weather forecasters this is the type of hurricane is expected dip.
Kind of basically just sit.
Over the state of Louisiana do you see kind of -- panic move on drivers parts try and fill up now and kind of prepare for what could be.
A rough a couple of days.
We are actually in -- appear in north Louisiana.
Both my counterpart to travelers you know that I know whether got a real rush down the Mississippi gulf -- In the Louisiana Coach feeling -- up feeling up.
It's about gallon drawn to spot gallantry and in just a -- and you know for the worst -- -- -- -- -- well keep the trumpet like that take place.
Are you saying gasoline prices already even at the -- level.
Are you are you seeing that RD happened as the storm approaches or things kind of -- still.
We haven't had a whole lot of retail price changes yet we had a pretty good bit of -- -- price guilty after -- it's my understanding the cash market.
Yesterday was.
Of all the Gulf Coast spot cash market about forty cents a gallon we saw about a deeply district forty -- A gallon price increase almost about Iraq prices that we purchased from that change generally going.
6 PM and twelve midnight yesterday he did so there was a -- That was pretty large spike in the the only in our in our prices last only.
In west what about the supply of fuel to -- you -- -- the gulf right there for you -- -- -- -- northern Louisiana I mean what about the supply -- -- we've -- barge traffic.
Been shut down now it's slowly regaining strength along the Mississippi -- you've got this -- you got this hurricane coming.
Shutting down production I mean that overall supply network -- gotta be somewhat in jeopardy at this point in and moving rather slowly.
The other the river have stressed that a lot of water barrels coming up -- -- and -- -- traveling unit just due to the levels in some each topic jump buyer can orchestra copper on the brink of Mississippi area to do what we final knowing generally is it we gotta be pipeline in river out adjust to study -- like most of that was called spot.
Eighty candidate distributor proposed charter flight gushing national -- -- common we know that our.
That are you know are partially -- any increase shall we start bringing our inventory levels dropped cannot buy from that.
Don't want into the terminal and Poland more product we do have to report -- -- -- give up here like I don't -- opened the -- will be cleared up by.
Friday to the first of next week but twelve with -- old huge deal kind of -- -- Going to alternate terminals which some can't tell ocean transportation issues that are generally -- -- How long do you think -- -- take this for the voice of experience -- -- -- how long do you think it's gonna take.
For full production to get back you mentioned Friday it mention may be ended next week -- -- -- Louisiana we go through this every year.
During hurricane season can -- -- -- kind of a time framing your best guess if you well about overlook an -- here.
I'm not really -- Herschel I'll wouldn't be qualified displayed at an all sorts of outlets and so I don't know what it looks very years of plans yeah we got Yemen are -- but it has been so long time I -- -- which like huge up like it'll be fairly quick.
Being a weaker -- To get back to normal and -- a lot of infrastructure damage it that you just never doubt you know what that damaging -- Are at wells have less is gonna go the source I tell you we certainly are occupy their fingers crossed for the people of Louisiana and Mississippi.
As well west thank you very much very --
