Not Logged In Log In   Sign Up   Points Leaders
Follow Us    11:06 AM

GasBuddy News Article

66
votes
Marathon Seeks Federal Oil Loan In Wake Of Isaac

Associated Press -- A newspaper reports that Marathon Petroleum Corp. is seeking an emergency supply of oil from the federal government to offset supply chain effects of Hurricane Isaac.

The Courier of Findlay reported Saturday that Marathon has requested 1 million barrels of crude oil from the Strategic Petroleum Reserve to make up for the reduced supply of oil to refineries because of the storm.

A spokesman told the newspaper it isn't clear when the crude would be released. Communications manager Shane Pochard said the loan would allow Marathon refineries to resume normal operations.

The loaned oil would go to other Marathon refineries besides Garyville, La., which was in the hurricane's path. Pochard said the facility was not damaged but was hit with heavy rainfall that slowed operations.



Read the Full Article

Submitted Sep 02, 2012 By: RENEGADEGAS
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Marathon Seeks Federal Oil Loan In Wake Of Isaac Back to Topics
REPLIES (newest first) Post a Reply
jtravis711
Veteran Author Orange County

Posts:288
Points:506,400
Joined:Feb 2011
Message Posted: Sep 4, 2012 2:01:04 PM

GOOD CALL Martinman.....so the US loaned the oil to Marathon and this post was in that mix...so now what?
eschroth442
Champion Author Cleveland

Posts:3,109
Points:863,665
Joined:Nov 2011
Message Posted: Sep 4, 2012 9:06:09 AM

give them the loan but make sure the interest rate is really HIGH, just like the proces they charge us. I think 200% is good
sparky808
Champion Author Honolulu

Posts:5,986
Points:1,351,985
Joined:Sep 2011
Message Posted: Sep 3, 2012 5:35:11 PM

Thank you for posting.
Wolfman_TJack
Champion Author Twin Cities

Posts:5,830
Points:1,236,245
Joined:Feb 2012
Message Posted: Sep 3, 2012 1:14:20 AM

Speedway LLC (Greedway) is a wholly owned subsidiary of the Marathon Petroleum Company.

Greedway the gasoline retailer that is the first to raise prices and the last to lower them.

They want a break and yet they give the customer the shaft.
Zonk
Champion Author Michigan

Posts:9,703
Points:2,874,025
Joined:Oct 2005
Message Posted: Sep 3, 2012 12:30:06 AM

Hey Marathon, that's part of doing business.
bbigred
Veteran Author Lansing

Posts:472
Points:324,755
Joined:May 2006
Message Posted: Sep 3, 2012 12:19:07 AM

Big Oil does not help just so they can gouge us more and more
ican2step
Champion Author Pittsburgh

Posts:4,828
Points:1,195,225
Joined:Feb 2012
Message Posted: Sep 3, 2012 12:17:56 AM

ok
us4usa
Champion Author Missouri

Posts:7,163
Points:1,564,050
Joined:May 2008
Message Posted: Sep 3, 2012 12:16:42 AM

At what percent was the refineries running a week before Isaac??? Maybe next time they will be prepared???
jrschl
Champion Author Louisville

Posts:6,229
Points:1,463,315
Joined:Jun 2011
Message Posted: Sep 3, 2012 12:15:49 AM

That's what the gov't is for, right? Handout...? Handout...? Anyone...? Anyone...?
HelenT
Champion Author Buffalo

Posts:6,192
Points:1,274,410
Joined:Apr 2004
Message Posted: Sep 3, 2012 12:15:15 AM

....
jem069
Champion Author Detroit

Posts:4,585
Points:1,295,160
Joined:Jan 2011
Message Posted: Sep 3, 2012 12:14:58 AM

Ok
12766
Champion Author New York

Posts:5,625
Points:2,240,085
Joined:Oct 2008
Message Posted: Sep 3, 2012 12:14:46 AM

OK
Minutefan
Champion Author Springfield

Posts:5,068
Points:1,931,260
Joined:Aug 2004
Message Posted: Sep 3, 2012 12:14:38 AM

You've got to be kidding me. IS this from the Onion?
mgune9
All-Star Author Dallas

Posts:914
Points:200,395
Joined:Feb 2012
Message Posted: Sep 3, 2012 12:14:32 AM

I think not
weenerdog
Champion Author Detroit

Posts:10,690
Points:2,562,505
Joined:Jan 2008
Message Posted: Sep 3, 2012 12:14:13 AM

really
crreed1
Champion Author West Virginia

Posts:5,031
Points:3,217,835
Joined:May 2005
Message Posted: Sep 3, 2012 12:14:10 AM

BS
miser709
Champion Author Grand Rapids

Posts:1,278
Points:1,784,525
Joined:Mar 2004
Message Posted: Sep 3, 2012 12:13:43 AM

Where is the compassion at the pump? I say NO Oil loan from US!
NJColt
Champion Author New Jersey

Posts:15,700
Points:3,411,790
Joined:Aug 2005
Message Posted: Sep 3, 2012 12:13:43 AM

Just stop...
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: Sep 3, 2012 12:13:28 AM

No need for that. Who expects to make a big killing on that? Definitely not the citizenry of the USA. Politicians???
six_ball_man
Champion Author Rochester

Posts:12,173
Points:2,142,380
Joined:Oct 2007
Message Posted: Sep 3, 2012 12:13:18 AM


The strategic reserve is there to bail out oil companies that plan poorly?
r-i-g-h-t!!!
boatfloyd
Champion Author Jacksonville

Posts:5,027
Points:1,168,615
Joined:Mar 2012
Message Posted: Sep 3, 2012 12:13:15 AM

Sounds good.
VetteFan
Champion Author Indiana

Posts:11,318
Points:2,417,625
Joined:Aug 2005
Message Posted: Sep 3, 2012 12:12:36 AM

Sorry, get your oil some where else.
millerin
Champion Author Orlando

Posts:5,047
Points:1,198,275
Joined:Jan 2012
Message Posted: Sep 3, 2012 12:11:42 AM

hmm...
jkpsr
Champion Author New Jersey

Posts:5,974
Points:1,628,915
Joined:Jun 2005
Message Posted: Sep 3, 2012 12:11:21 AM

This is what the SPR is for!
Matt G
Champion Author Boston

Posts:7,778
Points:3,553,290
Joined:Jun 2004
Message Posted: Sep 3, 2012 12:11:19 AM

Ok
SteelPenny
Champion Author Dallas

Posts:38,471
Points:3,384,805
Joined:Sep 2005
Message Posted: Sep 3, 2012 12:10:56 AM

NO.
LanguageMan1
Champion Author Tampa

Posts:17,009
Points:2,443,815
Joined:Apr 2008
Message Posted: Sep 3, 2012 12:10:52 AM

Interesting way to get a release from the SPR. Not what I want to see.
58salty
Champion Author Jacksonville

Posts:75,420
Points:960,140
Joined:Aug 2011
Message Posted: Sep 3, 2012 12:10:48 AM

OK
gamalerin
Champion Author Tampa

Posts:7,994
Points:1,769,790
Joined:Jul 2010
Message Posted: Sep 3, 2012 12:09:37 AM

I read it before.Thanks anyway.
souly
Champion Author Montreal

Posts:5,121
Points:1,213,825
Joined:Jun 2010
Message Posted: Sep 3, 2012 12:08:58 AM

thanks for the post
rahcat
Champion Author Grand Rapids

Posts:5,975
Points:1,445,200
Joined:Jan 2010
Message Posted: Sep 3, 2012 12:07:39 AM

No way....their subsidiary SPEEDWAY gouges the midwest. Let them eat oil.
Math6149
Champion Author Jacksonville

Posts:1,193
Points:2,446,135
Joined:Jan 2007
Message Posted: Sep 3, 2012 12:07:25 AM

mn
yakstar
Champion Author Montreal

Posts:5,430
Points:1,234,675
Joined:Jan 2012
Message Posted: Sep 3, 2012 12:07:05 AM

who cares?
TheHermit
Champion Author Maine

Posts:3,452
Points:275,915
Joined:May 2012
Message Posted: Sep 3, 2012 12:05:19 AM

I'd say no
Math6149
Champion Author Jacksonville

Posts:1,193
Points:2,446,135
Joined:Jan 2007
Message Posted: Sep 3, 2012 12:05:15 AM

00
1fulltank
Champion Author Buffalo

Posts:10,942
Points:2,289,355
Joined:Nov 2008
Message Posted: Sep 3, 2012 12:05:02 AM

At what % interest?
tutaw
Champion Author Kentucky

Posts:6,520
Points:1,605,335
Joined:Sep 2008
Message Posted: Sep 3, 2012 12:03:45 AM

ask bp for it
Blue_Cruzer
Champion Author Lexington

Posts:8,894
Points:1,942,465
Joined:Mar 2007
Message Posted: Sep 3, 2012 12:02:58 AM

A lame excuse.
hcivic
Champion Author Virginia

Posts:7,081
Points:3,039,515
Joined:Aug 2005
Message Posted: Sep 3, 2012 12:02:50 AM

ok
GRUMPY55
Champion Author California

Posts:3,149
Points:1,074,150
Joined:Oct 2011
Message Posted: Sep 3, 2012 12:01:32 AM

ok
ED6
Champion Author Riverside

Posts:10,761
Points:2,102,610
Joined:Jul 2007
Message Posted: Sep 3, 2012 12:01:12 AM

SPR is for emergency.
GigHarborHound
Champion Author Tacoma

Posts:4,033
Points:785,610
Joined:Sep 2011
Message Posted: Sep 3, 2012 12:01:08 AM

OK!!
unicornIL
All-Star Author Chicago

Posts:561
Points:711,910
Joined:Jan 2012
Message Posted: Sep 2, 2012 11:58:42 PM

Ok
dulberg
Veteran Author Long Island

Posts:271
Points:308,950
Joined:Nov 2007
Message Posted: Sep 2, 2012 11:57:58 PM

K
gilfarm
Champion Author Alabama

Posts:9,993
Points:2,720,370
Joined:Sep 2005
Message Posted: Sep 2, 2012 11:57:04 PM

ok
THX138
Champion Author San Francisco

Posts:4,800
Points:1,747,220
Joined:Apr 2010
Message Posted: Sep 2, 2012 11:54:00 PM

Mitt-wit says "Let 'em fail".
bulbous
Champion Author Ohio

Posts:27,054
Points:446,550
Joined:Feb 2011
Message Posted: Sep 2, 2012 11:53:58 PM

ask for oil from the refineries that aren't running at capacity.that's supposed to be one of the reasons for high prices.use less and we can starve them out.we have to be willing to give up something to beat the criminal element in business.
dlemma
Champion Author Wyoming

Posts:7,166
Points:2,325,945
Joined:Feb 2008
Message Posted: Sep 2, 2012 11:52:54 PM

No!
jrsva
Champion Author Virginia

Posts:13,360
Points:2,395,025
Joined:Jan 2006
Message Posted: Sep 2, 2012 11:51:20 PM


The SPR is for emergencies and this is not an emergency; however, I see no reason not to make a modest-size loan as long as there is a contract and it is paid back with interest in a timely manner.
HA4CNN
Champion Author Toronto

Posts:8,652
Points:2,278,865
Joined:Dec 2006
Message Posted: Sep 2, 2012 11:48:36 PM

It sounds like a plan.
dcjauburn
Champion Author Sacramento

Posts:18,761
Points:3,021,365
Joined:May 2005
Message Posted: Sep 2, 2012 11:47:20 PM

why not loan them the oil with interest on payback? Oil is oil it really doesn't make any difference what the price is as long as it is re-payed with like oil and a little more.
Post a reply Back to Topics