Posted in: Default,
by Patrick DeHaan on Aug 21, 2009 02:43 PM
Storm update: Hurricane Bill has taken a direct turn for two (or more) major oil refineries in Canada. At this time, Bill is forecast to pass just miles from Imperial Oil's 89,000bpd refinery and North Atlantic Refining's 115,000bpd plant. Bill is also forecast to be in striking distance of Irving Oil's huge 300,000bpd refinery. The total output of all three refineries is ovef 500,000bpd, close to the size of the largest refinery in the United States.While forecasts for storm strength vary for when the storm may impact these areas, it is important for consumers in the area to understand that there may be some disruptions if the storm causes power outages and/or wind damage. Unfortunately, if even one refinery goes down, it may cause prices to rise locally as much as 10-25%.
Canadians in this area would be well advised to have a back-up plan if they rely heavily on the use of motor fuels as some supply disruption appears possible. Currently, the storm is forecast to hit these areas Sunday afternoon and will leave Canadian waters Monday afternoon. The storm is currently forecast to speed its movement NE over the Atlantic Monday morning.