Gustav tracking towards USA gulf coast - triggers higher oil prices
8/27/2008 at 8:26 PM
CBC News
http://www.cbc.ca/world/story/2008/08/27/gustav.html
This is an interesting one to watch. Gustav has already to blame for 11 deaths in the caribbean, is building in intensity and tracking towards the U.S. Gulf Coast. Media reports are saying that it is currently moving towards Jamaica and Cuba, and has already hit Haiti/Dominican Republic hard. There is a real possibility that it may hit New Orleans head-on, although it may hit US shore 500km in either direction from Texas to Florida. Not good for New Orleans or any of the other Gulf Coast regions hit by hurricane Katrina three years ago.
Royal Dutch Shell PLC has announced it is planning to evacuate workers from it's offshore rigs in the Gulf of Mexico as soon as Wednesday, and other companies are also expected to follow suit. That means some serious oil rig shutdowns, so gas prices may be on the rise in the very near future.
We all remember how poorly Katrina was handled, hopefully ol George and his cronies are ready for it this time!