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But we may never see that ten day outage. While Kay Bailey Hutchison is predicting an eight or nine day outage, Bloomberg is reporting that the thirteen Texas refineries escaped major damage, and could be up as soon as they get power restored. The three Louisiana refineries at Lake Charles will be down longer, as they sustained more damage. The feds are releasing crude oil from the SPR to help stock refineries that are operating but facing reduced production because of Gustav and Ike's impact on crude inventories. That lack of crude may be more hype than reality, however, as evidenced by the fact that NYMEX electronic futures are below $99 right now. Futures on October regular unleaded are also down today. So there are obviously a LOT of people who don't think there's going to be a major shortage at all, because that's the way the money is flowing.
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