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March 14, 2006

Summer Oil Prices: Upside Threats

hurricane gas pump
An uptick in gas prices due to another bad hurricane season might be viewed as a sort of "carbon tax" if you believe that global warming is increasing ocean temperatures.

AccuWeather is reporting that Atlantic surface water temperatures are high and similiar to last years' surface water temperatures which fueled the massive hurricane season. [thanks to Mike Shedlock, again] The warmer the surface waters in the tropical Atlantic, the easier it is for storms to form up and the more intense they become. There is significant risk of another really bad hurricane season in the Caribbean and Gulf of Mexico, which could increase the shut-in risks due to the fact that not all damage in the oil producing areas have been permanently fixed.

 

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Summer Oil Prices: Upside Threats

Posted on March 14, 2006 04:44 PM by hurric585.
Filed in Hurricane! under hurricane wilma.
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