Getting hit hard in Charlotte-gas shortage, bank buyout

[Lady Rainbow]

Oh yeah, we're feeling it here in Charlotte...

Charlotte's a major banking center, with two major banks based here...Wachovia and Bank of America. Wachovia just got bought/taken over by CitiCorp. and everyone's worried about losing jobs. A lot of my mom friends or their husbands work at Wachovia , so they're on puins and needles, esp. since Citicorps in based in NYC, not Charlotte.

Even 2 weeks after Hurricane Ike, gas is hard to come by here in town. Part of it is because we get ours through a pipeline from Texas, and they're predicting another 2-4 weeks of shortage. They're trying to ration gas and there are long lines at the pumps. Just tonight, we were in line for 40 minutes at the station closest to our house and we were 3 cars behind the one at the pump when the attendants told us they'd just run out. Luckily, we managed to get some at another station.

I've had mom friends who haven't been able to get to work, and kids having to stay home from school because of the gas thing. Harris Teeter over here runs out of milk regularly...and gas costs about $4.19.

So yeah, we're definitely feeling it.

[Pitseleh]

I am really very sorry to hear that.

Although I am not American, I did live up there for most of my teen yers, and the US economy remains a major part of CR's own economic health. The news of the several economic problems, buyouts, gas-shortages, and natural disasters have been broadcasted here, and our "experts" are seriously frightened. I was quite saddened when I visited my old town in Florida last month, and found some of my friends selling their houses, closing their businesses, or looking for jobs. My prayers are with you, guys. We're hoping just as much as you are that you find a solution to all this stuff.

[Alelou]

This is scary stuff.

Doesn't help that with BAC, Citi and JPM/Chase buying up all the failing banks, we're going to be left with three giant banks that are ALSO too big to let fail. I just wrote a big direct mail package for Wachovia's Visa program last month. I wonder if it will even make it into the mail now.

It's ironic, LR, that gas prices have really sinking up here while you guys are dealing with terrible shortages. I guess it's a pretty regional business. I hope that part of this craziness settles down soon.

[Navigator]

It really is strange as to how regionalized it is. We have had no problems here other than a couple of days after the storm. But 200 miles east in Nashville, they seem to be having the same problems as you are. I wonder if it is more a problem of getting the refineries back up than it is one of crude supply. We have a local refinery.

[Elessar]

It really is strange as to how regionalized it is. We have had no problems here other than a couple of days after the storm. But 200 miles east in Nashville, they seem to be having the same problems as you are. I wonder if it is more a problem of getting the refineries back up than it is one of crude supply. We have a local refinery.

Actually, what I heard about the Nashville one though was that it was FAKE. There ended up BEING a real gas shortage but only because the RUMOR of a gas shortage CAUSED one because everybody ran out and clogged gas stations for miles. But originally, what I read said there was no real shortage in Nashville.

I'm sorry, LB, , I heard about this going on in Charlotte. Scary stuff.

*sigh* I hate saying it, but I'm glad I got my AK today.

[Alelou]

This regional shortage really is related to refineries/pipelines.

In the north I believe we switch gas formulations for summer and winter, so maybe we have a relative glut of one of those formulations right now. I'm not saying the oil game isn't rigged at a high level, but it really is mostly a supply & demand situation when it comes to how you get gas at your local stations. Even at the crude level it's supply & demand. The games come in when you start looking at who's getting paid what for oil drilling rights in what countries and how did they get them, who gets what tax breaks, who controls the middle levels, etc. etc.

[dialee]

Yeah! Isn't that what business is all about?

Sorry to hear about the lines, Lady Rainbow. I remember the last time I had to wait in line for gas. I had just gotten my driver's license and my dad told me to go gas up. I had to wake up at 6am and get in line on an odd/even day system.

Why hasn't the local government instituted a similar system so people might not have to wait that long?