TheSkaven
Last Man Standing
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As many of you know, oil supply/demand has been running perilously close, causing oil prices (and thus, prices at the pump) to spike up in recent months. Port Fourchon is the largest oil port in the Gulf of Mexico, and is the lifeline for most incoming oil into the US.
Unfortunately, Hurricane Katrina is on a course for a direct hit on Port Fourchon. I don't think that I can emphasize just how bad this is.
"Right now they are predicting the storm in the worst-case scenario for us," said Ted Falgout, director of Port Fourchon, according to Dow Jones Newswires. "It's not going to be a pretty sight if it goes as projected."
About one-sixth of the U.S. oil supply comes through the Port Fourchon facilities. The port accounts for about 13% of U.S. oil imports. About 27% of U.S. domestic production comes through the port's pipelines.
http://www.marketwatch.com/news/story.asp?guid={F7E49D16-0EF9-4D05-89DF-6020DC6793BE}&siteid=google
Guys, let's all hope that this Hurricane takes an abrupt turn in a different direction. At best, I think we're looking at oil in the $70's per barrel early next week. At the worst? Well, there could be a major supply shortage, meaning long lines at the pumps and a spike in prices.
Unfortunately, Hurricane Katrina is on a course for a direct hit on Port Fourchon. I don't think that I can emphasize just how bad this is.
"Right now they are predicting the storm in the worst-case scenario for us," said Ted Falgout, director of Port Fourchon, according to Dow Jones Newswires. "It's not going to be a pretty sight if it goes as projected."
About one-sixth of the U.S. oil supply comes through the Port Fourchon facilities. The port accounts for about 13% of U.S. oil imports. About 27% of U.S. domestic production comes through the port's pipelines.
http://www.marketwatch.com/news/story.asp?guid={F7E49D16-0EF9-4D05-89DF-6020DC6793BE}&siteid=google
Guys, let's all hope that this Hurricane takes an abrupt turn in a different direction. At best, I think we're looking at oil in the $70's per barrel early next week. At the worst? Well, there could be a major supply shortage, meaning long lines at the pumps and a spike in prices.