Nightly Business Report (PBS) - 2005-09-01
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Read a transcript preview of “Nightly Business Report (PBS) - 2005-09-01” from malgent, uploaded on 2026-01-07.
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Language: English (original, YouTube automatic captions)
[0:01] This program was made possible by
[0:04] contributions to your PBS [music]
[0:06] station from viewers like you. Thank
[0:09] you.
[0:15] [music]
[0:17] >> Good evening everyone. Relief and rescue
[0:20] efforts are in high gear tonight all
[0:21] over the United States to help the
[0:24] victims of Hurricane Katrina. Congress
[0:26] is coming back early from summer recess
[0:28] to approve the administration's request
[0:30] for10 billion dollars to cover immediate
[0:32] needs. And businesses all across the
[0:34] country are pitching in with supplies
[0:36] and cash to help where they can. But
[0:39] it's going to be a long haul and
[0:40] Americans are going to have to deal with
[0:42] one key area of fallout, high gasoline
[0:45] prices. We have two reports tonight
[0:47] looking at how energy futures are
[0:49] trading and whether gas price gouging is
[0:51] a threat. We begin with Erica Miller in
[0:54] New York.
[0:55] It was another intense day of trading in
[0:57] gasoline futures at the New York
[0:59] Merkantile Exchange. Traders reported
[1:02] panicked buying.
[1:03] >> This is the the the most crazy it's been
[1:05] since I've been trading for um over 15
[1:07] years.
[1:08] >> Wholesale gasoline for October delivery
[1:10] jumped 15 cents to 241 a gallon. The
[1:14] rally's cause was clear. Continued
[1:16] uncertainty about the impact of
[1:18] Hurricane Katrina. What's going on here
[1:20] is you've shut down a lot of refineries
[1:21] on the Gulf Coast and the majority of
[1:23] our gasoline production is from those
[1:25] refineries on the Gulf Coast.
[1:26] >> Crude oil futures also rose today
[1:28] despite the government's decision to
[1:30] release emergency petroleum reserves.
[1:32] Exon Mobile is one company that plans to
[1:35] borrow crude fr