Knoxville-area drivers are seeing more bags on gasoline pumps today as
a petroleum shortage spreading throughout the Southeast hits local gas
stations, groceries and convenience stores.
Refinery outages along the Gulf Coast in the wake of Hurricane Gustav
have created severe shortages, causing retailers like Weigel’s to
scramble to keep their pumps flowing. And Hurricane Ike is bearing down
on Texas, drawing a bead on North America’s petroleum manufacturing
capital of Houston and portending a worst-case scenario for dealers and
The phrase "bags on gasoline pumps" is a reference to stations being out of gas and closing pumps.
Here is a multiple choice question for good economics students everywhere:
Gasoline shortages are caused by:
B. Something else (scroll down or do a find on "Tennessee"
The correct answer is B.