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GasBuddy News Article

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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.



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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

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Points:505,000
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Message Posted: Sep 4, 2012 1:01:04 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

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Points:856,390
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Message Posted: Sep 4, 2012 8:06:09 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

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Message Posted: Sep 3, 2012 4:35:11 PM

Thank you for posting.
Wolfman_TJack
Champion Author Twin Cities

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Message Posted: Sep 3, 2012 12:14:20 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

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Message Posted: Sep 2, 2012 11:30:06 PM

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

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Message Posted: Sep 2, 2012 11:19:07 PM

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

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Message Posted: Sep 2, 2012 11:17:56 PM

ok
us4usa
Champion Author Missouri

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Message Posted: Sep 2, 2012 11:16:42 PM

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

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Message Posted: Sep 2, 2012 11:15:49 PM

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

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Message Posted: Sep 2, 2012 11:15:15 PM

....
jem069
Champion Author Detroit

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Message Posted: Sep 2, 2012 11:14:58 PM

Ok
12766
Champion Author New York

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Message Posted: Sep 2, 2012 11:14:46 PM

OK
Minutefan
Champion Author Springfield

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Message Posted: Sep 2, 2012 11:14:38 PM

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

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Message Posted: Sep 2, 2012 11:14:32 PM

I think not
weenerdog
Champion Author Detroit

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Message Posted: Sep 2, 2012 11:14:13 PM

really
crreed1
Champion Author West Virginia

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Message Posted: Sep 2, 2012 11:14:10 PM

BS
miser709
Champion Author Grand Rapids

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Message Posted: Sep 2, 2012 11:13:43 PM

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

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Message Posted: Sep 2, 2012 11:13:43 PM

Just stop...
tedjm1
Champion Author New York

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Message Posted: Sep 2, 2012 11:13:28 PM

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

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Message Posted: Sep 2, 2012 11:13:18 PM


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

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Message Posted: Sep 2, 2012 11:13:15 PM

Sounds good.
VetteFan
Champion Author Indiana

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Message Posted: Sep 2, 2012 11:12:36 PM

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

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Message Posted: Sep 2, 2012 11:11:42 PM

hmm...
jkpsr
Champion Author New Jersey

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Message Posted: Sep 2, 2012 11:11:21 PM

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

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Message Posted: Sep 2, 2012 11:11:19 PM

Ok
SteelPenny
Champion Author Dallas

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Message Posted: Sep 2, 2012 11:10:56 PM

NO.
LanguageMan1
Champion Author Tampa

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Message Posted: Sep 2, 2012 11:10:52 PM

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

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Message Posted: Sep 2, 2012 11:10:48 PM

OK
gamalerin
Champion Author Tampa

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Message Posted: Sep 2, 2012 11:09:37 PM

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

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Message Posted: Sep 2, 2012 11:08:58 PM

thanks for the post
rahcat
Champion Author Grand Rapids

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Message Posted: Sep 2, 2012 11:07:39 PM

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

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Message Posted: Sep 2, 2012 11:07:25 PM

mn
yakstar
Champion Author Montreal

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Message Posted: Sep 2, 2012 11:07:05 PM

who cares?
TheHermit
Champion Author Maine

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Message Posted: Sep 2, 2012 11:05:19 PM

I'd say no
Math6149
Champion Author Jacksonville

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Message Posted: Sep 2, 2012 11:05:15 PM

00
1fulltank
Champion Author Buffalo

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Message Posted: Sep 2, 2012 11:05:02 PM

At what % interest?
tutaw
Champion Author Kentucky

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Message Posted: Sep 2, 2012 11:03:45 PM

ask bp for it
Blue_Cruzer
Champion Author Lexington

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Message Posted: Sep 2, 2012 11:02:58 PM

A lame excuse.
hcivic
Champion Author Virginia

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Message Posted: Sep 2, 2012 11:02:50 PM

ok
GRUMPY55
Champion Author California

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Message Posted: Sep 2, 2012 11:01:32 PM

ok
ED6
Champion Author Riverside

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Message Posted: Sep 2, 2012 11:01:12 PM

SPR is for emergency.
GigHarborHound
Champion Author Tacoma

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Message Posted: Sep 2, 2012 11:01:08 PM

OK!!
unicornIL
All-Star Author Chicago

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Message Posted: Sep 2, 2012 10:58:42 PM

Ok
dulberg
Veteran Author Long Island

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Message Posted: Sep 2, 2012 10:57:58 PM

K
gilfarm
Champion Author Alabama

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Message Posted: Sep 2, 2012 10:57:04 PM

ok
THX138
Champion Author San Francisco

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Message Posted: Sep 2, 2012 10:54:00 PM

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

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Message Posted: Sep 2, 2012 10:53:58 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

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Message Posted: Sep 2, 2012 10:52:54 PM

No!
jrsva
Champion Author Virginia

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Message Posted: Sep 2, 2012 10:51:20 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

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Message Posted: Sep 2, 2012 10:48:36 PM

It sounds like a plan.
dcjauburn
Champion Author Sacramento

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Message Posted: Sep 2, 2012 10:47:20 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.
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