As gas prices hit 10-month highs, Citi warns major hurricanes could ‘massively’ disrupt supplies
As gas prices hit 10-month highs, Citi warns major hurricanes could ‘massively’ disrupt supplies
A bad hurricane season could cost Americans at the gas pump.
The summertime gas price spike has been driven by a combination of easing recession fears, production cuts by Russia and Saudi Arabia and extreme heat that has knocked offline some refinery activity.
The historic heatwaves could cause even more trouble by potentially setting the stage for powerful hurricanes.
Yeah ok.
Read as "whether or not hurricanes disrupt supplies, were going to use this fear as justification for raising prices anyways. We will post yet another year of record profits"
For real. Such a cop out. Companies acting like they've never had disruptions before so they never prepare for failure. It just their excuse to get "help" from tax payers.
Can you imagine if some restaurant was like "that snowstorm really fucked with our revenue so cheeseburgers are $47 today."
Edit: but it's a McDonald's.