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Gustav and Gas...

7:06 AM Wed, Aug 27, 2008 |

Yesterday in this blog I gave you heads up on the potential for Gustav to impact oil and gasoline prices. Here is the latest from the AP Wire...

"A powerful storm in the Gulf of Mexico could force shutdowns on
the offshore rigs that account for a quarter of U.S. crude
production and much of its natural gas. Royal Dutch Shell PLC said
it could begin evacuating workers as soon as Wednesday.
The price of light, sweet crude for October delivery ended
Tuesday up US$1.16 to settle at US$116.27 a barrel on the New York
Mercantile Exchange after the forecasters said Gustav could enter
the gulf as a major hurricane this weekend. If the storm continues on its path, it could drive up U.S. gasoline prices by 10 cents a gallon ahead of Labor Day weekend,
predicted James Cordier, president of Tampa, Florida-based Liberty
Trading Group and OptionSellers.com."

Gustav 8-27-08.gif

One positive note... We reported on 13 News Daybreak this morning that about 30,000 people in the New Orleans area have pre-registered for evacuation assistance if Gustav gets too close. Three years following hurricane Katrina, residents are taking tropical threats to their region very seriously and preparing well in advance of a potential landfall.

There is still a fair amount of uncertainty as to where exactly the storm will be headed in five days. Residents from coastal Texas to the Florida panhandle will be waiting and watching Gustav.



3 Comments

Steve said:

Wow this does not look good. They are saying it will be a category three or four storm and hit Louisiana.

Tdog said:

craig do you think this is shaping up to be as bad as katrina? thanks

http://www.wvec.com/blogs/profiles/moeller.js Author Profile Page said:

Tdog,
Let us hope this isn't as bad as Katrina. I will say it is too early to know for sure (I am typing this Wednesday 8/27 at noon.) We are getting reports of people along the gulf coast already starting their preparations so at least they are taking the potential threat seriously.

Today's 11 AM forecast track has shifted a little to the east of this morning's forecast. It will likely continue to change a bit from forecast to forecast. Keep checking back.


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