Not Logged In Log In   Sign Up   Points Leaders
Follow Us    8:53 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
Profile Pic
jtravis711
Veteran Author Orange County

Posts:276
Points:454,910
Joined:Feb 2011
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?
Profile Pic
eschroth442
Champion Author Cleveland

Posts:2,696
Points:743,220
Joined:Nov 2011
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
Profile Pic
sparky808
Champion Author Honolulu

Posts:5,369
Points:1,177,650
Joined:Sep 2011
Message Posted: Sep 3, 2012 4:35:11 PM

Thank you for posting.
Profile Pic
Wolfman_TJack
Champion Author Twin Cities

Posts:5,158
Points:1,057,620
Joined:Feb 2012
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.
Profile Pic
Zonk
Champion Author Michigan

Posts:9,035
Points:2,695,900
Joined:Oct 2005
Message Posted: Sep 2, 2012 11:30:06 PM

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

Posts:466
Points:316,010
Joined:May 2006
Message Posted: Sep 2, 2012 11:19:07 PM

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

Posts:4,156
Points:1,016,400
Joined:Feb 2012
Message Posted: Sep 2, 2012 11:17:56 PM

ok
Profile Pic
us4usa
Champion Author Missouri

Posts:7,095
Points:1,490,920
Joined:May 2008
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???
Profile Pic
jrschl
Champion Author Louisville

Posts:5,554
Points:1,282,640
Joined:Jun 2011
Message Posted: Sep 2, 2012 11:15:49 PM

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

Posts:5,521
Points:1,124,760
Joined:Apr 2004
Message Posted: Sep 2, 2012 11:15:15 PM

....
Profile Pic
jem069
Champion Author Detroit

Posts:4,525
Points:1,157,135
Joined:Jan 2011
Message Posted: Sep 2, 2012 11:14:58 PM

Ok
Profile Pic
12766
Champion Author New York

Posts:4,959
Points:2,061,440
Joined:Oct 2008
Message Posted: Sep 2, 2012 11:14:46 PM

OK
Profile Pic
Minutefan
Champion Author Springfield

Posts:4,801
Points:1,775,220
Joined:Aug 2004
Message Posted: Sep 2, 2012 11:14:38 PM

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

Posts:914
Points:200,395
Joined:Feb 2012
Message Posted: Sep 2, 2012 11:14:32 PM

I think not
Profile Pic
weenerdog
Champion Author Detroit

Posts:10,635
Points:2,407,455
Joined:Jan 2008
Message Posted: Sep 2, 2012 11:14:13 PM

really
Profile Pic
crreed1
Champion Author West Virginia

Posts:4,385
Points:3,059,760
Joined:May 2005
Message Posted: Sep 2, 2012 11:14:10 PM

BS
Profile Pic
miser709
Champion Author Grand Rapids

Posts:1,278
Points:1,620,000
Joined:Mar 2004
Message Posted: Sep 2, 2012 11:13:43 PM

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

Posts:15,040
Points:3,232,430
Joined:Aug 2005
Message Posted: Sep 2, 2012 11:13:43 PM

Just stop...
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
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???
Profile Pic
six_ball_man
Champion Author Rochester

Posts:11,213
Points:1,963,615
Joined:Oct 2007
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!!!
Profile Pic
boatfloyd
Champion Author Jacksonville

Posts:4,349
Points:989,590
Joined:Mar 2012
Message Posted: Sep 2, 2012 11:13:15 PM

Sounds good.
Profile Pic
VetteFan
Champion Author Indiana

Posts:11,318
Points:2,391,225
Joined:Aug 2005
Message Posted: Sep 2, 2012 11:12:36 PM

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

Posts:4,375
Points:1,018,695
Joined:Jan 2012
Message Posted: Sep 2, 2012 11:11:42 PM

hmm...
Profile Pic
jkpsr
Champion Author New Jersey

Posts:5,936
Points:1,574,480
Joined:Jun 2005
Message Posted: Sep 2, 2012 11:11:21 PM

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

Posts:7,134
Points:3,374,580
Joined:Jun 2004
Message Posted: Sep 2, 2012 11:11:19 PM

Ok
Profile Pic
SteelPenny
Champion Author Dallas

Posts:36,872
Points:3,205,940
Joined:Sep 2005
Message Posted: Sep 2, 2012 11:10:56 PM

NO.
Profile Pic
LanguageMan1
Champion Author Tampa

Posts:15,915
Points:2,262,890
Joined:Apr 2008
Message Posted: Sep 2, 2012 11:10:52 PM

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

Posts:75,420
Points:960,140
Joined:Aug 2011
Message Posted: Sep 2, 2012 11:10:48 PM

OK
Profile Pic
gamalerin
Champion Author Tampa

Posts:7,317
Points:1,589,515
Joined:Jul 2010
Message Posted: Sep 2, 2012 11:09:37 PM

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

Posts:4,427
Points:1,032,855
Joined:Jun 2010
Message Posted: Sep 2, 2012 11:08:58 PM

thanks for the post
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:5,305
Points:1,265,150
Joined:Jan 2010
Message Posted: Sep 2, 2012 11:07:39 PM

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

Posts:1,134
Points:2,290,515
Joined:Jan 2007
Message Posted: Sep 2, 2012 11:07:25 PM

mn
Profile Pic
yakstar
Champion Author Montreal

Posts:4,805
Points:1,059,450
Joined:Jan 2012
Message Posted: Sep 2, 2012 11:07:05 PM

who cares?
Profile Pic
TheHermit
Champion Author Maine

Posts:3,452
Points:246,915
Joined:May 2012
Message Posted: Sep 2, 2012 11:05:19 PM

I'd say no
Profile Pic
Math6149
Champion Author Jacksonville

Posts:1,134
Points:2,290,515
Joined:Jan 2007
Message Posted: Sep 2, 2012 11:05:15 PM

00
Profile Pic
1fulltank
Champion Author Buffalo

Posts:10,274
Points:2,110,365
Joined:Nov 2008
Message Posted: Sep 2, 2012 11:05:02 PM

At what % interest?
Profile Pic
tutaw
Champion Author Kentucky

Posts:5,963
Points:1,429,800
Joined:Sep 2008
Message Posted: Sep 2, 2012 11:03:45 PM

ask bp for it
Profile Pic
Blue_Cruzer
Champion Author Lexington

Posts:8,894
Points:1,942,465
Joined:Mar 2007
Message Posted: Sep 2, 2012 11:02:58 PM

A lame excuse.
Profile Pic
hcivic
Champion Author Virginia

Posts:6,422
Points:2,861,730
Joined:Aug 2005
Message Posted: Sep 2, 2012 11:02:50 PM

ok
Profile Pic
GRUMPY55
Champion Author California

Posts:3,144
Points:931,025
Joined:Oct 2011
Message Posted: Sep 2, 2012 11:01:32 PM

ok
Profile Pic
ED6
Champion Author Riverside

Posts:10,761
Points:2,101,935
Joined:Jul 2007
Message Posted: Sep 2, 2012 11:01:12 PM

SPR is for emergency.
Profile Pic
GigHarborHound
Champion Author Tacoma

Posts:4,033
Points:785,610
Joined:Sep 2011
Message Posted: Sep 2, 2012 11:01:08 PM

OK!!
Profile Pic
unicornIL
All-Star Author Chicago

Posts:555
Points:685,965
Joined:Jan 2012
Message Posted: Sep 2, 2012 10:58:42 PM

Ok
Profile Pic
dulberg
Veteran Author Long Island

Posts:271
Points:298,525
Joined:Nov 2007
Message Posted: Sep 2, 2012 10:57:58 PM

K
Profile Pic
gilfarm
Champion Author Alabama

Posts:9,333
Points:2,540,645
Joined:Sep 2005
Message Posted: Sep 2, 2012 10:57:04 PM

ok
Profile Pic
THX138
Champion Author San Francisco

Posts:4,285
Points:1,577,090
Joined:Apr 2010
Message Posted: Sep 2, 2012 10:54:00 PM

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

Posts:22,891
Points:333,920
Joined:Feb 2011
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.
Profile Pic
dlemma
Champion Author Wyoming

Posts:6,508
Points:2,148,175
Joined:Feb 2008
Message Posted: Sep 2, 2012 10:52:54 PM

No!
Profile Pic
jrsva
Champion Author Virginia

Posts:12,674
Points:2,214,200
Joined:Jan 2006
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.
Profile Pic
HA4CNN
Champion Author Toronto

Posts:7,981
Points:2,101,015
Joined:Dec 2006
Message Posted: Sep 2, 2012 10:48:36 PM

It sounds like a plan.
Post a reply Back to Topics