Comments on: Hurricane Gustav Bears Down On Coast, Shutting Down 25% Of US Oil Production

By: RobertOak

RobertOak — Mon, 01 Sep 2008 06:44:00 +0000

Over on The Economic Populist, there is a really detailed post, The Loop and how if Gustav hits exactly at the wrong place it could shut down a huge percentage of US oil production as well as refineries.

You all probably know about The Oil Drum which is a blog devoted to energy markets.

By: Cujo359

Cujo359 — Mon, 01 Sep 2008 05:32:45 +0000

Looks like ours is headed back to Iraq. There’s a group of disaster emergency specialists up here who always seem to head to places like wherever this hurricane hits. I’m sure they’ll be mounting up soon, or whatever they call it.

By: Cujo359

Cujo359 — Mon, 01 Sep 2008 05:27:37 +0000

Higher ground, I imagine.

By: TexBetsy

TexBetsy — Mon, 01 Sep 2008 05:25:24 +0000

My nephew’s Tex Nat Guard unit is busy with Port Arthur Texas and on standby for Galveston.

By: TexBetsy

TexBetsy — Mon, 01 Sep 2008 05:24:39 +0000

They’re listening to music upstairs.

By: Cujo359

Cujo359 — Mon, 01 Sep 2008 05:24:26 +0000

Thank you, Canada.

I’m just glad they’re helping. Some disasters are so big that no one nation can handle the emergency services aspects on its own. We’ve certainly degraded our ability in the last few years, but there are going to be times when we need help almost as much as Indonesia did a couple of years ago.

Yet another reason to treat other nations well the rest of the time, I suppose.

By: katymine

katymine — Mon, 01 Sep 2008 05:20:02 +0000

So where did everyone go?

By: wmd1961

wmd1961 — Mon, 01 Sep 2008 05:19:28 +0000

Bear in mind that oil futures won’t be trading in New York until Tuesday due to the labor day holiday. London market willbe open tomorrow however as will electronic trading platforms. I think about a $4-$6 bump is probable, which means gasoline prices go up $0.10-$0.20 per gallon.

This isn’t the only hurricane this season, there’s a strong low pressure system about 650 miles west of Cape Verde that’s headed our way now. NWS gives it greater than a 50% chance of developing into a tropical storm/hurricane.

By: Beerfart Liberal

Beerfart Liberal — Mon, 01 Sep 2008 05:19:15 +0000

nice. kinda strange how they have a few taller buildings plopped down there, but nice. and you’re lucky to have that performing arts center. so that was fog? i thought a dust storm. remember, everything i know about OK, i know from woody’s songs.

By: Cujo359

Cujo359 — Mon, 01 Sep 2008 05:19:02 +0000

Hi Ian, just got here and everyone’s headed to late night.

Anyway, yes, it looks like oil prices may take a hit again. And they were just getting lower in time for the election. I think if McCain has any notions of increase his electability, preventing $5 a gallon gas would be a good start.

Hope things go OK there. The moving image of Gustav looks bad, like there’s a big bullseye on NOLA.