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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:199,065 Joined:Feb 2011	Message Posted: Sep 4, 2012 11:01:04 AM 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:1,084 Points:334,470 Joined:Nov 2011	Message Posted: Sep 4, 2012 6:06:09 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:3,008 Points:599,685 Joined:Sep 2011	Message Posted: Sep 3, 2012 2:35:11 PM Ignore sparky808 Report Abuse Thank you for posting.
Wolfman_TJack Champion Author Twin Cities Posts:2,519 Points:462,240 Joined:Feb 2012	Message Posted: Sep 2, 2012 10:14:20 PM 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:6,491 Points:2,103,965 Joined:Oct 2005	Message Posted: Sep 2, 2012 9:30:06 PM Ignore Zonk Report Abuse Hey Marathon, that's part of doing business.
bbigred Veteran Author Lansing Posts:427 Points:297,950 Joined:May 2006	Message Posted: Sep 2, 2012 9:19:07 PM Ignore bbigred Report Abuse Big Oil does not help just so they can gouge us more and more
ican2step Champion Author Pittsburgh Posts:1,691 Points:429,350 Joined:Feb 2012	Message Posted: Sep 2, 2012 9:17:56 PM Ignore ican2step Report Abuse ok
us4usa Champion Author Missouri Posts:5,998 Points:1,114,340 Joined:May 2008	Message Posted: Sep 2, 2012 9:16:42 PM 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:2,977 Points:682,265 Joined:Jun 2011	Message Posted: Sep 2, 2012 9:15:49 PM Ignore jrschl Report Abuse That's what the gov't is for, right? Handout...? Handout...? Anyone...? Anyone...?
HelenT Champion Author Buffalo Posts:2,964 Points:599,350 Joined:Apr 2004	Message Posted: Sep 2, 2012 9:15:15 PM Ignore HelenT Report Abuse ....
jem069 Champion Author Detroit Posts:2,548 Points:689,030 Joined:Jan 2011	Message Posted: Sep 2, 2012 9:14:58 PM Ignore jem069 Report Abuse Ok
12766 Champion Author New York Posts:2,453 Points:1,485,365 Joined:Oct 2008	Message Posted: Sep 2, 2012 9:14:46 PM Ignore 12766 Report Abuse OK
Minutefan Champion Author Springfield Posts:3,316 Points:1,248,030 Joined:Aug 2004	Message Posted: Sep 2, 2012 9:14:38 PM 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 2, 2012 9:14:32 PM Ignore mgune9 Report Abuse I think not
weenerdog Champion Author Detroit Posts:9,471 Points:1,886,840 Joined:Jan 2008	Message Posted: Sep 2, 2012 9:14:13 PM Ignore weenerdog Report Abuse really
crreed1 Champion Author West Virginia Posts:1,995 Points:2,528,285 Joined:May 2005	Message Posted: Sep 2, 2012 9:14:10 PM Ignore crreed1 Report Abuse BS
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,071,675 Joined:Mar 2004	Message Posted: Sep 2, 2012 9:13:43 PM Ignore miser709 Report Abuse Where is the compassion at the pump? I say NO Oil loan from US!
NJColt Champion Author New Jersey Posts:12,650 Points:2,644,935 Joined:Aug 2005	Message Posted: Sep 2, 2012 9:13:43 PM Ignore NJColt Report Abuse Just stop...
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Sep 2, 2012 9:13:28 PM 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:8,552 Points:1,394,025 Joined:Oct 2007	Message Posted: Sep 2, 2012 9:13:18 PM 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:1,728 Points:389,925 Joined:Mar 2012	Message Posted: Sep 2, 2012 9:13:15 PM Ignore boatfloyd Report Abuse Sounds good.
VetteFan Champion Author Indiana Posts:9,749 Points:2,030,430 Joined:Aug 2005	Message Posted: Sep 2, 2012 9:12:36 PM Ignore VetteFan Report Abuse Sorry, get your oil some where else.
millerin Champion Author Orlando Posts:2,317 Points:483,090 Joined:Jan 2012	Message Posted: Sep 2, 2012 9:11:42 PM Ignore millerin Report Abuse hmm...
jkpsr Champion Author New Jersey Posts:4,089 Points:1,103,855 Joined:Jun 2005	Message Posted: Sep 2, 2012 9:11:21 PM Ignore jkpsr Report Abuse This is what the SPR is for!
Matt G Champion Author Boston Posts:4,543 Points:2,774,990 Joined:Jun 2004	Message Posted: Sep 2, 2012 9:11:19 PM Ignore Matt G Report Abuse Ok
SteelPenny Champion Author Dallas Posts:30,988 Points:2,608,690 Joined:Sep 2005	Message Posted: Sep 2, 2012 9:10:56 PM Ignore SteelPenny Report Abuse NO.
LanguageMan1 Champion Author Tampa Posts:11,733 Points:1,663,740 Joined:Apr 2008	Message Posted: Sep 2, 2012 9:10:52 PM Ignore LanguageMan1 Report Abuse Interesting way to get a release from the SPR. Not what I want to see.
58salty Champion Author Jacksonville Posts:6,645 Points:631,840 Joined:Aug 2011	Message Posted: Sep 2, 2012 9:10:48 PM Ignore 58salty Report Abuse OK
gamalerin Champion Author Tampa Posts:4,762 Points:995,460 Joined:Jul 2010	Message Posted: Sep 2, 2012 9:09:37 PM Ignore gamalerin Report Abuse I read it before.Thanks anyway.
souly Champion Author Montreal Posts:1,770 Points:433,345 Joined:Jun 2010	Message Posted: Sep 2, 2012 9:08:58 PM Ignore souly Report Abuse thanks for the post
rahcat Champion Author Grand Rapids Posts:2,478 Points:664,150 Joined:Jan 2010	Message Posted: Sep 2, 2012 9:07:39 PM Ignore rahcat Report Abuse No way....their subsidiary SPEEDWAY gouges the midwest. Let them eat oil.
Math6149 All-Star Author Jacksonville Posts:873 Points:1,798,125 Joined:Jan 2007	Message Posted: Sep 2, 2012 9:07:25 PM Ignore Math6149 Report Abuse mn
yakstar Champion Author Montreal Posts:2,430 Points:480,845 Joined:Jan 2012	Message Posted: Sep 2, 2012 9:07:05 PM Ignore yakstar Report Abuse who cares?
TheHermit Champion Author Maine Posts:3,404 Points:128,230 Joined:May 2012	Message Posted: Sep 2, 2012 9:05:19 PM Ignore TheHermit Report Abuse I'd say no
Math6149 All-Star Author Jacksonville Posts:873 Points:1,798,125 Joined:Jan 2007	Message Posted: Sep 2, 2012 9:05:15 PM Ignore Math6149 Report Abuse 00
1fulltank Champion Author Buffalo Posts:7,913 Points:1,546,260 Joined:Nov 2008	Message Posted: Sep 2, 2012 9:05:02 PM Ignore 1fulltank Report Abuse At what % interest?
tutaw Champion Author Kentucky Posts:3,613 Points:844,695 Joined:Sep 2008	Message Posted: Sep 2, 2012 9:03:45 PM Ignore tutaw Report Abuse ask bp for it
Blue_Cruzer Champion Author Lexington Posts:7,530 Points:1,671,535 Joined:Mar 2007	Message Posted: Sep 2, 2012 9:02:58 PM Ignore Blue_Cruzer Report Abuse A lame excuse.
hcivic Champion Author Virginia Posts:3,859 Points:2,266,690 Joined:Aug 2005	Message Posted: Sep 2, 2012 9:02:50 PM Ignore hcivic Report Abuse ok
GRUMPY55 Champion Author California Posts:1,629 Points:424,250 Joined:Oct 2011	Message Posted: Sep 2, 2012 9:01:32 PM Ignore GRUMPY55 Report Abuse ok
ED6 Champion Author Riverside Posts:9,494 Points:1,853,080 Joined:Jul 2007	Message Posted: Sep 2, 2012 9:01:12 PM Ignore ED6 Report Abuse SPR is for emergency.
GigHarborHound Champion Author Tacoma Posts:2,542 Points:489,465 Joined:Sep 2011	Message Posted: Sep 2, 2012 9:01:08 PM Ignore GigHarborHound Report Abuse OK!!
unicornIL Veteran Author Chicago Posts:446 Points:386,595 Joined:Jan 2012	Message Posted: Sep 2, 2012 8:58:42 PM Ignore unicornIL Report Abuse Ok
dulberg Sophomore Author Long Island Posts:242 Points:265,480 Joined:Nov 2007	Message Posted: Sep 2, 2012 8:57:58 PM Ignore dulberg Report Abuse K
gilfarm Champion Author Alabama Posts:6,806 Points:1,950,790 Joined:Sep 2005	Message Posted: Sep 2, 2012 8:57:04 PM Ignore gilfarm Report Abuse ok
THX138 Champion Author San Francisco Posts:2,565 Points:1,015,880 Joined:Apr 2010	Message Posted: Sep 2, 2012 8:54:00 PM Ignore THX138 Report Abuse Mitt-wit says "Let 'em fail".
bulbous Champion Author Ohio Posts:3,655 Points:114,210 Joined:Feb 2011	Message Posted: Sep 2, 2012 8:53:58 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:4,116 Points:1,556,970 Joined:Feb 2008	Message Posted: Sep 2, 2012 8:52:54 PM Ignore dlemma Report Abuse No!
jrsva Champion Author Virginia Posts:9,863 Points:1,614,950 Joined:Jan 2006	Message Posted: Sep 2, 2012 8:51:20 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:5,634 Points:1,545,440 Joined:Dec 2006	Message Posted: Sep 2, 2012 8:48:36 PM Ignore HA4CNN Report Abuse It sounds like a plan.