well I know a few stopped closing and evacuations because of reports on friday that katrina would miss them. Then on mid saturday they were rushed to emergency evacuations and closures because the weather guys said they would be directly hit. Alot of the rigs managers were blind sided and couldnt beleiave the 360 the weather guys took. Its not only oil production in jeopardy but the lousina oil port. Hopefully they moved out any ships on dock, and made preparations. If they are hurt bad, it could mean no oil coming in from louisna.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Will Oil hit 70$ this week
- Thread starter mahram
- Start date
who'd have thought the thing would hit twice?
Sunday night on the open Seth. The gaps issue is an interesting one though.
I would think some real worldwide selling is possible due to higher crude prices. Imagine the drawdowns just as a result of motorists gassing up in anticipation of higher prices.
The NWS office in New Orleans advisory below is way more ominous than anything I saw on the National Hurricane Service website:
URGENT - WEATHER MESSAGE
NATIONAL WEATHER SERVICE NEW ORLEANS LA
1011 AM CDT SUN AUG 28 2005
...DEVASTATING DAMAGE EXPECTED...
.HURRICANE KATRINA...A MOST POWERFUL HURRICANE WITH UNPRECEDENTED
STRENGTH...RIVALING THE INTENSITY OF HURRICANE CAMILLE OF 1969.
MOST OF THE AREA WILL BE UNINHABITABLE FOR WEEKS...PERHAPS LONGER. AT
LEAST ONE HALF OF WELL CONSTRUCTED HOMES WILL HAVE ROOF AND WALL
FAILURE. ALL GABLED ROOFS WILL FAIL...LEAVING THOSE HOMES SEVERELY
DAMAGED OR DESTROYED.
THE MAJORITY OF INDUSTRIAL BUILDINGS WILL BECOME NON FUNCTIONAL.
PARTIAL TO COMPLETE WALL AND ROOF FAILURE IS EXPECTED. ALL WOOD
FRAMED LOW RISING APARTMENT BUILDINGS WILL BE DESTROYED. CONCRETE
BLOCK LOW RISE APARTMENTS WILL SUSTAIN MAJOR DAMAGE...INCLUDING SOME
WALL AND ROOF FAILURE.
HIGH RISE OFFICE AND APARTMENT BUILDINGS WILL SWAY DANGEROUSLY...A
FEW TO THE POINT OF TOTAL COLLAPSE. ALL WINDOWS WILL BLOW OUT.
AIRBORNE DEBRIS WILL BE WIDESPREAD...AND MAY INCLUDE HEAVY ITEMS SUCH
AS HOUSEHOLD APPLIANCES AND EVEN LIGHT VEHICLES. SPORT UTILITY
VEHICLES AND LIGHT TRUCKS WILL BE MOVED. THE BLOWN DEBRIS WILL CREATE
ADDITIONAL DESTRUCTION. PERSONS...PETS...AND LIVESTOCK EXPOSED TO THE
WINDS WILL FACE CERTAIN DEATH IF STRUCK.
POWER OUTAGES WILL LAST FOR WEEKS...AS MOST POWER POLES WILL BE DOWN
AND TRANSFORMERS DESTROYED. WATER SHORTAGES WILL MAKE HUMAN SUFFERING
INCREDIBLE BY MODERN STANDARDS.
THE VAST MAJORITY OF NATIVE TREES WILL BE SNAPPED OR UPROOTED. ONLY
THE HEARTIEST WILL REMAIN STANDING...BUT BE TOTALLY DEFOLIATED. FEW
CROPS WILL REMAIN. LIVESTOCK LEFT EXPOSED TO THE WINDS WILL BE
KILLED.
I would think some real worldwide selling is possible due to higher crude prices. Imagine the drawdowns just as a result of motorists gassing up in anticipation of higher prices.
The NWS office in New Orleans advisory below is way more ominous than anything I saw on the National Hurricane Service website:
URGENT - WEATHER MESSAGE
NATIONAL WEATHER SERVICE NEW ORLEANS LA
1011 AM CDT SUN AUG 28 2005
...DEVASTATING DAMAGE EXPECTED...
.HURRICANE KATRINA...A MOST POWERFUL HURRICANE WITH UNPRECEDENTED
STRENGTH...RIVALING THE INTENSITY OF HURRICANE CAMILLE OF 1969.
MOST OF THE AREA WILL BE UNINHABITABLE FOR WEEKS...PERHAPS LONGER. AT
LEAST ONE HALF OF WELL CONSTRUCTED HOMES WILL HAVE ROOF AND WALL
FAILURE. ALL GABLED ROOFS WILL FAIL...LEAVING THOSE HOMES SEVERELY
DAMAGED OR DESTROYED.
THE MAJORITY OF INDUSTRIAL BUILDINGS WILL BECOME NON FUNCTIONAL.
PARTIAL TO COMPLETE WALL AND ROOF FAILURE IS EXPECTED. ALL WOOD
FRAMED LOW RISING APARTMENT BUILDINGS WILL BE DESTROYED. CONCRETE
BLOCK LOW RISE APARTMENTS WILL SUSTAIN MAJOR DAMAGE...INCLUDING SOME
WALL AND ROOF FAILURE.
HIGH RISE OFFICE AND APARTMENT BUILDINGS WILL SWAY DANGEROUSLY...A
FEW TO THE POINT OF TOTAL COLLAPSE. ALL WINDOWS WILL BLOW OUT.
AIRBORNE DEBRIS WILL BE WIDESPREAD...AND MAY INCLUDE HEAVY ITEMS SUCH
AS HOUSEHOLD APPLIANCES AND EVEN LIGHT VEHICLES. SPORT UTILITY
VEHICLES AND LIGHT TRUCKS WILL BE MOVED. THE BLOWN DEBRIS WILL CREATE
ADDITIONAL DESTRUCTION. PERSONS...PETS...AND LIVESTOCK EXPOSED TO THE
WINDS WILL FACE CERTAIN DEATH IF STRUCK.
POWER OUTAGES WILL LAST FOR WEEKS...AS MOST POWER POLES WILL BE DOWN
AND TRANSFORMERS DESTROYED. WATER SHORTAGES WILL MAKE HUMAN SUFFERING
INCREDIBLE BY MODERN STANDARDS.
THE VAST MAJORITY OF NATIVE TREES WILL BE SNAPPED OR UPROOTED. ONLY
THE HEARTIEST WILL REMAIN STANDING...BUT BE TOTALLY DEFOLIATED. FEW
CROPS WILL REMAIN. LIVESTOCK LEFT EXPOSED TO THE WINDS WILL BE
KILLED.
Hurricane Katrina is going to wreak havoc with Natural Gas and Crude supplies out of the gulf of Mexico.
New Orleans is 6 feet below sea level. They say it could take 6 months to pump the water out of New Orleans which is home to Henry Hub. New Orleans is already pumping (in good weather) around the clock everyday 24/7/365. Now they will have no power to pump and estimated water as deep as 35 feet in some places. The most important gas market in the US. They have already declared force majeure suspension of operations.
Depending on how long this terminal is down energy prices will go crazy. Consumers, airlines, truckers, etc will be forced to spend increasing amounts at the pump and for heating this winter.
(As an aside, many people in the last couple of years have purchased huge McMansions that will be especially costly to heat this winter...and perhaps accelerate the bursting of the RE bubble, perhaps this is the "pin" and media "excuse" the bloated credit/real estate bubble finally needs to prick? Can you imagine heating a 5,000 square home with high ceilings in Wisconsin this winter, when last year you owned a 2,000 square and energy prices much cheaper...while driving big SUV's?)
What if we get repeated Gulf hurricanes this season...what if we have record bitter cold in the North East...
It is going to be a cold winter.
New Orleans is 6 feet below sea level. They say it could take 6 months to pump the water out of New Orleans which is home to Henry Hub. New Orleans is already pumping (in good weather) around the clock everyday 24/7/365. Now they will have no power to pump and estimated water as deep as 35 feet in some places. The most important gas market in the US. They have already declared force majeure suspension of operations.
Depending on how long this terminal is down energy prices will go crazy. Consumers, airlines, truckers, etc will be forced to spend increasing amounts at the pump and for heating this winter.
(As an aside, many people in the last couple of years have purchased huge McMansions that will be especially costly to heat this winter...and perhaps accelerate the bursting of the RE bubble, perhaps this is the "pin" and media "excuse" the bloated credit/real estate bubble finally needs to prick? Can you imagine heating a 5,000 square home with high ceilings in Wisconsin this winter, when last year you owned a 2,000 square and energy prices much cheaper...while driving big SUV's?)
What if we get repeated Gulf hurricanes this season...what if we have record bitter cold in the North East...
It is going to be a cold winter.
well last year we had 4 hurricanes right, if this is going tobe a long term trend of multiple hurricanes then we are in deep trouble. The lousina oil port handles 20% of oil coming into the US, if that is severely damage, coupled with damage to the gulf oil production, and like I said 70$ oil would be cheap.
Quote from aPismoClam:
who'd have thought the thing would hit twice?
Quote from onewaypockets:
Hurricane Katrina is going to wreak havoc with Natural Gas and Crude supplies out of the gulf of Mexico.
New Orleans is 6 feet below sea level. They say it could take 6 months to pump the water out of New Orleans which is home to Henry Hub. New Orleans is already pumping (in good weather) around the clock everyday 24/7/365. Now they will have no power to pump and estimated water as deep as 35 feet in some places. The most important gas market in the US. They have already declared force majeure suspension of operations.
Depending on how long this terminal is down energy prices will go crazy. Consumers, airlines, truckers, etc will be forced to spend increasing amounts at the pump and for heating this winter.
(As an aside, many people in the last couple of years have purchased huge McMansions that will be especially costly to heat this winter...and perhaps accelerate the bursting of the RE bubble, perhaps this is the "pin" and media "excuse" the bloated credit/real estate bubble finally needs to prick? Can you imagine heating a 5,000 square home with high ceilings in Wisconsin this winter, when last year you owned a 2,000 square and energy prices much cheaper...while driving big SUV's?)
What if we get repeated Gulf hurricanes this season...what if we have record bitter cold in the North East...
It is going to be a cold winter.
One,
I think so judging by this article on Port Fourchon.
http://www.123jump.com/story/Katrina/15675/reports
I've never been to any of these places but isn't the real problem that this may cripple important national industrial/distribution/shipping/all that infrastructure? I'm contrasting this with the area which Andrew hit which I have seen and would politely categorize as "housing/other". Any carpetbagger moron can rebuild some crappy home. How many people are out there that can rebuild a dock, leveee, trreatment palnt or other industrial facility?
Insurers are going to get creamed on this one.
They need a miracle down there. I hope those folks get it.
Geo.
Again, not one response. No one finds it uncanny, that the fake documentary on FX essentially portrayed this scenario to a "t" at least 4-5 months ago.
The Cat5+ hurricane was scheduled to destroy New Orleans Labor Day Weekend, 2005.
http://www.fxnetworks.com/shows/originals/oilstorm/main.html
The Cat5+ hurricane was scheduled to destroy New Orleans Labor Day Weekend, 2005.
http://www.fxnetworks.com/shows/originals/oilstorm/main.html
Quote from vulture:
Again, not one response. No one finds it uncanny, that the fake documentary on FX essentially portrayed this scenario to a "t" at least 4-5 months ago.
The Cat5+ hurricane was scheduled to destroy New Orleans Labor Day Weekend, 2005.
http://www.fxnetworks.com/shows/originals/oilstorm/main.html
No kidding...I missed that airing.
Bet they don't run it again anytime soon..."too upsetting" for many.
It wasnt fake then, i guess.
I read in the paper 20 oil rigs "went missing" in the gulf.
How the hell do you lose an oil rig? Let alone 20 of them? Castro towed em away when no one was looking, or what?
Its not like their small or might just blow away, and the odds of these things outright sinking is mighty slim.
Maybe they are just temporarily misplaced.
I read in the paper 20 oil rigs "went missing" in the gulf.
How the hell do you lose an oil rig? Let alone 20 of them? Castro towed em away when no one was looking, or what?
Its not like their small or might just blow away, and the odds of these things outright sinking is mighty slim.
Maybe they are just temporarily misplaced.
saw this on CNN via reuters last week
-- Venezuelan President Hugo Chavez, popular with the poor at home, offered on Tuesday to help needy Americans with cheap supplies of gasoline.-
-"We want to sell gasoline and heating fuel directly to poor communities in the United States," the populist leader told reporters at the end of a visit to Communist-run Cuba.-
-Chavez did not say how Venezuela would go about providing gasoline to poor communities. Venezuelan state oil company PDVSA owns Citgo, which has 14,000 gas stations in the United States.-
-The offer may sound attractive to Americans feeling pinched by soaring prices at the pump but not to the U.S. government, which sees Chavez as a left-wing troublemaker in Latin America.-
-Gasoline is cheaper than mineral water in oil-producing Venezuela, where consumers can fill their tanks for less than $2. Average gas prices have risen to $2.61 a gallon in the United States, according to the U.S. Energy Information Administration.-
-Chavez said Venezuela could supply gasoline to Americans at half the price they now pay if intermediaries who "speculated ... and exploited consumers" were cut out.-
-Venezuela supplies Cuba with generously financed oil and plans to help Caribbean nations foot their oil bills.-
-Chavez, in Cuba to attend the graduation of Cuban-trained doctors from 28 countries, was seen off at the airport by Cuban President Fidel Castro. Washington has accused the two leaders of being a destabilizing influence in South America.-
-- Venezuelan President Hugo Chavez, popular with the poor at home, offered on Tuesday to help needy Americans with cheap supplies of gasoline.-
-"We want to sell gasoline and heating fuel directly to poor communities in the United States," the populist leader told reporters at the end of a visit to Communist-run Cuba.-
-Chavez did not say how Venezuela would go about providing gasoline to poor communities. Venezuelan state oil company PDVSA owns Citgo, which has 14,000 gas stations in the United States.-
-The offer may sound attractive to Americans feeling pinched by soaring prices at the pump but not to the U.S. government, which sees Chavez as a left-wing troublemaker in Latin America.-
-Gasoline is cheaper than mineral water in oil-producing Venezuela, where consumers can fill their tanks for less than $2. Average gas prices have risen to $2.61 a gallon in the United States, according to the U.S. Energy Information Administration.-
-Chavez said Venezuela could supply gasoline to Americans at half the price they now pay if intermediaries who "speculated ... and exploited consumers" were cut out.-
-Venezuela supplies Cuba with generously financed oil and plans to help Caribbean nations foot their oil bills.-
-Chavez, in Cuba to attend the graduation of Cuban-trained doctors from 28 countries, was seen off at the airport by Cuban President Fidel Castro. Washington has accused the two leaders of being a destabilizing influence in South America.-