Hurricane Ike is the Latest Wild Card in the “Guess the Gasoline Price Game”
William Patalon (September 14th, 2008) Writes:
Last week’s crude and gasoline inventories dropped more than expected as the effects of Hurricane Gustav resulted in some production disruptions. Gustav, which struck last month, was the fourth-most-destructive storm to hit the United States, causing $20 billion in damages.
And then came Hurricane Ike.
Ike made landfall in the Galveston area of the U.S. Gulf Coast on in the pre-dawn hours Saturday (the day I was penning this column) as a Category 2 storm with winds hitting 110 miles per hour. Ike’s path toward Houston makes it the first storm to hit a major U.S. metropolitan area since Hurricane Katrina eviscerated New Orleans in 2005, Bloomberg News reported.
We won’t know how much direct damage those high winds from Hurricane Ike will cause for several days at least. From the initial reports, the results appear to be devastating.
But the indirect costs are ...
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Atlantic Hurricane, bloomberg, bush administration, China, Congressional Budget Office, conocophillips, Disney Co., Dow Jones, Duke University, Duke University/CFO Magazine, electricity delivery, energy, Energy Prices, energy reliability, ex-food, exxon mobil corp, Fannie Mae, fed-funds, Federal Government, Federal Open Market Committee, Federal Reserve System, Freddie Mac, Government Sponsored Enterprises, Gulf Coast, Houston, Hurricane Gustav, Hurricane Ike, hurricane katrina, Japan, Kevin Kolevar, Korea Development Bank, Labor Day, Lehman Brothers Holdings Inc, low energy prices, lower energy prices, Market Commentary, Money Morning, New Orleans, Oil, oil and gas prices, oil-refining capacity, Retail Sales, Royal Dutch Shell plc, Russell 2000, Sp 500, Texas, U.S. Energy Department, U.S. Gulf Coast, United States, Us Federal Reserve, Us Treasury, USD, Valero Energy Corp, Washington


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