Higher Chance of US Gulf Coast Hurricane in 2007 [View All]

[RestoreGore]

US: May 9, 2007

HOUSTON - There is an above-average chance that a major hurricane will hit the US Gulf Coast this year, marking a possible return to the destructive seasons of 2004 and 2005, leading storm forecasters predicted on Tuesday.

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"For energy markets, it's a bullish forecast," said AccuWeather forecaster Joe Bastardi. "The highest area of risk has swung southwest from the Atlantic to Florida and the eastern and central Gulf Coast regions," he said.

US oil prices rose 83 cents Tuesday to US$62.30 per barrel, pulling up from its lowest level since March 22 that was hit on Monday.

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Overall, the 2007 Atlantic hurricane season will bring 13 to 14 named storms, of which six or seven could strike the United States, AccuWeather said.

Colorado State University forecaster Phillip Klotzbach said at the conference there was a 49 percent chance that a hurricane packing winds of 111 miles per hour or higher would hit the Gulf Coast. The average chance for a major hurricane to hit the region is 30 percent, he said.

Story by Erwin Seba

http://www.planetark.com/dailynewsstory.cfm/newsid/41788/story.htm

more at the link.
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No wonder the market is up. People are betting on death and destruction and making money from it. Good god what a decrepid species we are. And I can bet there are those on both sides of the aisle who will strategize on how to use it to their political advantage rather than actually working to make sure that should this happen again we don't see another Hurricane Katrina aftermath.