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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

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jtravis711 Sophomore Author Orange County Posts:174 Points:195,465 Joined:Feb 2011	Message Posted: Sep 4, 2012 2:01:04 PM Ignore jtravis711 Report Abuse 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 Posts:1,064 Points:328,970 Joined:Nov 2011	Message Posted: Sep 4, 2012 9:06:09 AM Ignore eschroth442 Report Abuse 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 Posts:2,981 Points:594,810 Joined:Sep 2011	Message Posted: Sep 3, 2012 5:35:11 PM Ignore sparky808 Report Abuse Thank you for posting.
Wolfman_TJack Champion Author Twin Cities Posts:2,494 Points:457,265 Joined:Feb 2012	Message Posted: Sep 3, 2012 1:14:20 AM Ignore Wolfman_TJack Report Abuse 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 Posts:6,466 Points:2,099,090 Joined:Oct 2005	Message Posted: Sep 3, 2012 12:30:06 AM Ignore Zonk Report Abuse Hey Marathon, that's part of doing business.
bbigred Veteran Author Lansing Posts:424 Points:296,465 Joined:May 2006	Message Posted: Sep 3, 2012 12:19:07 AM Ignore bbigred Report Abuse Big Oil does not help just so they can gouge us more and more
ican2step Champion Author Pittsburgh Posts:1,666 Points:423,625 Joined:Feb 2012	Message Posted: Sep 3, 2012 12:17:56 AM Ignore ican2step Report Abuse ok
us4usa Champion Author Missouri Posts:5,976 Points:1,109,385 Joined:May 2008	Message Posted: Sep 3, 2012 12:16:42 AM Ignore us4usa Report Abuse At what percent was the refineries running a week before Isaac??? Maybe next time they will be prepared???
jrschl Champion Author Louisville Posts:2,952 Points:677,840 Joined:Jun 2011	Message Posted: Sep 3, 2012 12:15:49 AM Ignore jrschl Report Abuse That's what the gov't is for, right? Handout...? Handout...? Anyone...? Anyone...?
HelenT Champion Author Buffalo Posts:2,939 Points:594,900 Joined:Apr 2004	Message Posted: Sep 3, 2012 12:15:15 AM Ignore HelenT Report Abuse ....
jem069 Champion Author Detroit Posts:2,523 Points:684,155 Joined:Jan 2011	Message Posted: Sep 3, 2012 12:14:58 AM Ignore jem069 Report Abuse Ok
12766 Champion Author New York Posts:2,423 Points:1,479,415 Joined:Oct 2008	Message Posted: Sep 3, 2012 12:14:46 AM Ignore 12766 Report Abuse OK
Minutefan Champion Author Springfield Posts:3,293 Points:1,242,830 Joined:Aug 2004	Message Posted: Sep 3, 2012 12:14:38 AM Ignore Minutefan Report Abuse You've got to be kidding me. IS this from the Onion?
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Sep 3, 2012 12:14:32 AM Ignore mgune9 Report Abuse I think not
weenerdog Champion Author Detroit Posts:9,441 Points:1,880,890 Joined:Jan 2008	Message Posted: Sep 3, 2012 12:14:13 AM Ignore weenerdog Report Abuse really
crreed1 Champion Author West Virginia Posts:1,970 Points:2,523,410 Joined:May 2005	Message Posted: Sep 3, 2012 12:14:10 AM Ignore crreed1 Report Abuse BS
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,066,325 Joined:Mar 2004	Message Posted: Sep 3, 2012 12:13:43 AM Ignore miser709 Report Abuse Where is the compassion at the pump? I say NO Oil loan from US!
NJColt Champion Author New Jersey Posts:12,620 Points:2,638,985 Joined:Aug 2005	Message Posted: Sep 3, 2012 12:13:43 AM Ignore NJColt Report Abuse Just stop...
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Sep 3, 2012 12:13:28 AM Ignore tedjm1 Report Abuse 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 Posts:8,522 Points:1,388,115 Joined:Oct 2007	Message Posted: Sep 3, 2012 12:13:18 AM Ignore six_ball_man Report Abuse The strategic reserve is there to bail out oil companies that plan poorly? r-i-g-h-t!!!
boatfloyd Champion Author Jacksonville Posts:1,703 Points:385,050 Joined:Mar 2012	Message Posted: Sep 3, 2012 12:13:15 AM Ignore boatfloyd Report Abuse Sounds good.
VetteFan Champion Author Indiana Posts:9,724 Points:2,025,555 Joined:Aug 2005	Message Posted: Sep 3, 2012 12:12:36 AM Ignore VetteFan Report Abuse Sorry, get your oil some where else.
millerin Champion Author Orlando Posts:2,295 Points:478,440 Joined:Jan 2012	Message Posted: Sep 3, 2012 12:11:42 AM Ignore millerin Report Abuse hmm...
jkpsr Champion Author New Jersey Posts:4,069 Points:1,099,105 Joined:Jun 2005	Message Posted: Sep 3, 2012 12:11:21 AM Ignore jkpsr Report Abuse This is what the SPR is for!
Matt G Champion Author Boston Posts:4,513 Points:2,769,040 Joined:Jun 2004	Message Posted: Sep 3, 2012 12:11:19 AM Ignore Matt G Report Abuse Ok
SteelPenny Champion Author Dallas Posts:30,912 Points:2,603,490 Joined:Sep 2005	Message Posted: Sep 3, 2012 12:10:56 AM Ignore SteelPenny Report Abuse NO.
LanguageMan1 Champion Author Tampa Posts:11,702 Points:1,657,790 Joined:Apr 2008	Message Posted: Sep 3, 2012 12:10:52 AM Ignore LanguageMan1 Report Abuse Interesting way to get a release from the SPR. Not what I want to see.
58salty Champion Author Jacksonville Posts:6,588 Points:625,890 Joined:Aug 2011	Message Posted: Sep 3, 2012 12:10:48 AM Ignore 58salty Report Abuse OK
gamalerin Champion Author Tampa Posts:4,732 Points:989,510 Joined:Jul 2010	Message Posted: Sep 3, 2012 12:09:37 AM Ignore gamalerin Report Abuse I read it before.Thanks anyway.
souly Champion Author Montreal Posts:1,748 Points:429,405 Joined:Jun 2010	Message Posted: Sep 3, 2012 12:08:58 AM Ignore souly Report Abuse thanks for the post
rahcat Champion Author Grand Rapids Posts:2,453 Points:659,275 Joined:Jan 2010	Message Posted: Sep 3, 2012 12:07:39 AM Ignore rahcat Report Abuse No way....their subsidiary SPEEDWAY gouges the midwest. Let them eat oil.
Math6149 All-Star Author Jacksonville Posts:873 Points:1,792,775 Joined:Jan 2007	Message Posted: Sep 3, 2012 12:07:25 AM Ignore Math6149 Report Abuse mn
yakstar Champion Author Montreal Posts:2,400 Points:475,645 Joined:Jan 2012	Message Posted: Sep 3, 2012 12:07:05 AM Ignore yakstar Report Abuse who cares?
TheHermit Champion Author Maine Posts:3,404 Points:127,030 Joined:May 2012	Message Posted: Sep 3, 2012 12:05:19 AM Ignore TheHermit Report Abuse I'd say no
Math6149 All-Star Author Jacksonville Posts:873 Points:1,792,775 Joined:Jan 2007	Message Posted: Sep 3, 2012 12:05:15 AM Ignore Math6149 Report Abuse 00
1fulltank Champion Author Buffalo Posts:7,888 Points:1,541,385 Joined:Nov 2008	Message Posted: Sep 3, 2012 12:05:02 AM Ignore 1fulltank Report Abuse At what % interest?
tutaw Champion Author Kentucky Posts:3,575 Points:838,745 Joined:Sep 2008	Message Posted: Sep 3, 2012 12:03:45 AM Ignore tutaw Report Abuse ask bp for it
Blue_Cruzer Champion Author Lexington Posts:7,505 Points:1,666,660 Joined:Mar 2007	Message Posted: Sep 3, 2012 12:02:58 AM Ignore Blue_Cruzer Report Abuse A lame excuse.
hcivic Champion Author Virginia Posts:3,834 Points:2,261,715 Joined:Aug 2005	Message Posted: Sep 3, 2012 12:02:50 AM Ignore hcivic Report Abuse ok
GRUMPY55 Champion Author California Posts:1,619 Points:421,450 Joined:Oct 2011	Message Posted: Sep 3, 2012 12:01:32 AM Ignore GRUMPY55 Report Abuse ok
ED6 Champion Author Riverside Posts:9,463 Points:1,847,130 Joined:Jul 2007	Message Posted: Sep 3, 2012 12:01:12 AM Ignore ED6 Report Abuse SPR is for emergency.
GigHarborHound Champion Author Tacoma Posts:2,517 Points:484,490 Joined:Sep 2011	Message Posted: Sep 3, 2012 12:01:08 AM Ignore GigHarborHound Report Abuse OK!!
unicornIL Veteran Author Chicago Posts:446 Points:382,695 Joined:Jan 2012	Message Posted: Sep 2, 2012 11:58:42 PM Ignore unicornIL Report Abuse Ok
dulberg Sophomore Author Long Island Posts:242 Points:265,480 Joined:Nov 2007	Message Posted: Sep 2, 2012 11:57:58 PM Ignore dulberg Report Abuse K
gilfarm Champion Author Alabama Posts:6,776 Points:1,944,840 Joined:Sep 2005	Message Posted: Sep 2, 2012 11:57:04 PM Ignore gilfarm Report Abuse ok
THX138 Champion Author San Francisco Posts:2,544 Points:1,010,985 Joined:Apr 2010	Message Posted: Sep 2, 2012 11:54:00 PM Ignore THX138 Report Abuse Mitt-wit says "Let 'em fail".
bulbous Champion Author Ohio Posts:3,546 Points:111,710 Joined:Feb 2011	Message Posted: Sep 2, 2012 11:53:58 PM Ignore bulbous Report Abuse 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 Posts:4,086 Points:1,551,020 Joined:Feb 2008	Message Posted: Sep 2, 2012 11:52:54 PM Ignore dlemma Report Abuse No!
jrsva Champion Author Virginia Posts:9,835 Points:1,609,325 Joined:Jan 2006	Message Posted: Sep 2, 2012 11:51:20 PM Ignore jrsva Report Abuse 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 Posts:5,604 Points:1,539,490 Joined:Dec 2006	Message Posted: Sep 2, 2012 11:48:36 PM Ignore HA4CNN Report Abuse It sounds like a plan.