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arthur Guest
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Posted: Sat Aug 27, 2005 9:03 pm Post subject: ****Hurricane Katrina Special Note**** |
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The national weather service is predicting oil prices for next week!
http://www.wunderground.com/blog/SteveGregory/show.html
SPECIAL NOTE: Hurricane Katrina is heading for 'Prime Oil Producing Real Estate' in the north central Gulf.
Unless the forecasts prove very wrong (as in landfall 250 miles to the east, or the storm is much weaker) -- Oil prices
will jump tremendously on Monday. Last year IVAN took out fully 6% of the entire U.S. annual Production of oil
and a fair amount of this years record high prices has to do with the 'threat' of another IVAN. On Friday, the 'market
thought' Katrina would be a CAT 2 in the Florida Panhandle - and priced oil accordingly. If Katrina 'stays on course',
prices will jump $3-$5 per barrel Monday morning. Further increases to $75/bbl may follow Tuesday if there are reports
of serious infrastructure damage on par with that done last year by IVAN - by far the most expensive hurricane to affect
the U.S. oil producing industry. |
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