Just As We Thought Prices...

[motordavid]

For petroleum based products had stabilized for awhile, here in the Colonies, the refiners union has risen up.
From AP via the WSJ today:
Talks Go On for Refiners and Unions

• 
  A strike by 24,000 refinery workers in the U.S. was averted, at least temporarily, as both sides agreed to extend negotiations for at least 24 hours.

Workers at refineries near New Orleans, Houston and Billings, Mont., will show up for scheduled shifts Monday, though negotiators will be back at the table on Sunday.

"We have made progress in that there was no strike at midnight," said Lynne Baker, a spokeswoman for the United Steelworkers, which represents more than 30,000 oil workers in the U.S. "But there are still issues that need to be worked out and notice of a strike could be given at any time if that progress stalls."

The union agreed to a rolling 24-hour extension, which allows the union to give the required one-day notice to strike.

The biggest refiner in the U.S., Valero Energy Corp., said it would shut down some facilities if workers walk out. So did European oil company BP PLC.

Shell Oil Co., the lead negotiator for the industry, along with Exxon Mobil Corp., said its refineries would continue to make gasoline, diesel and other fuels using nonunion or replacement workers.

Chemical refiners would also be affected. LyondellBassell Industries said it was bringing in managers from locations not involved in contract negotiations to keep refineries going.

A strike would affect 60 producers, Ms. Baker said.

Thursday, union negotiators turned down the most recent offer of a 2.5% wage increase for each of the next three years, in addition to changes in medical coverage.

The impasse comes with refiners already cutting production amid the economic slowdown.
Copyright © 2009 Associated Press