![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
Effects of Hurricane Ike on oil and gas markets
James Hamilton (September 14th, 2008) Writes:
As Hurricane Ike took over the Gulf of Mexico, I watched with unusual interest, since I had been scheduled to fly through Houston to give a lecture in Baton Rouge on Friday. We had to cancel that visit to LSU, which left me to contemplate the consequences of Hurricane Ike for oil and gas markets from the comfort of my warm, snug home in San Diego.
Hurricane Ike on Sept. 12. Source: Drudge.
Essentially all of the 1.3 million barrels per day of U.S. crude oil production from the Gulf of Mexico (which accounts for about a quarter of total U.S. production) has been shut in as a result of the storm. When the same thing happened 3 years ago with Hurricane Katrina, the effects turned out to be surprisingly long-lived. Damage to offshore rigs proved costly to repair,
...Tags for this Post:
Anderson, Bill Weigel, bloomberg, Blount, crude oil inputs, Crude Oil Production, Economics, Florida, Gulf Coast, gulf of mexico, Houston, Hurricane, Hurricane Ike, hurricane katrina, Knox, Knoxville, Loudon, Louisiana, Michigan, Missouri, Monroe, North Carolina, Oil, oil and gas markets, Oil Prices, Petroleum Administration for Defense District, San Diego, Sevier, Tennessee, Texas, United States, Weigel
Anderson, Bill Weigel, bloomberg, Blount, crude oil inputs, Crude Oil Production, Economics, Florida, Gulf Coast, gulf of mexico, Houston, Hurricane, Hurricane Ike, hurricane katrina, Knox, Knoxville, Loudon, Louisiana, Michigan, Missouri, Monroe, North Carolina, Oil, oil and gas markets, Oil Prices, Petroleum Administration for Defense District, San Diego, Sevier, Tennessee, Texas, United States, Weigel
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.