Katrina could have a major impact on Oil Prices!!!

[LynneSin]

http://www.nytimes.com/2005/08/28/national/29katrinacnd.html?hp

"The real issue - that I don't think the nation is paying attention to - is that through the city of New Orleans, through the Gulf of Mexico, we probably deal with almost a third of the nation's domestic oil that is produced. And that will most likely be shut down," Mr. Nagin said.

"So, this can have a significant impact on oil prices going forward," he added.

[Deja Q]

1. Let's wait for it to happen first. And THEN worry.

It's also temporary should it do happen; they'll get things up and running again.

[notadmblnd]

2. I topped off today at 2.56 a gallon

it is being said they the prices may jump as much as a dollar tomorrow. The full tank should get me through the next two weeks and for prices to drop (though I doubt they will) again when refineries in NOLA begin to recover.

[lonestarnot]

3. People already lining up at Costco in Chandler, AZ

[leesa]

4. So could the greed of the oil barons

[ClintonTyree]

5. Seriously.........

everyone should fill up today. Tomorrow morning the oil traders are going to bid the prices up whether there's any real damage or not. They'll be "speculating" and we'll all pay the price for that. Gas prices WILL increase first thing in the morning. Let the gouging begin, but since it's the oil companies, it's alright. Wait until you see their profits for NEXT quarter!

Anyone that doesn't want to get gouged, at least this time had better head for the gas station. I filled up at 9:00 this morning anticipating this.

[SangamonTaylor]

6. It has already made an impact

Oil futures rose this weekend some $6 this weekend if I heard correctly.

I worked offshore of Louisiana for a summer one time (flew out of Morgan City to the South Timbalier, Eugene Island, Ship Shoal, and Grand Isle fields), and I can guarantee that Katrina has already caused major damage offshore. The biggest worry right now is the refining capacity and all of the critical infrastructure that could be lost onshore.

I'm definitely expecting a bump at the stations this week (and am topping off my tank first thing in the morning)

/Prays for New Orleans, Morgan City, Houma, New Iberia, Slidell, and everywhere in between.