- Jun 2, 2008
Hurricane season may bring $6-a-gallon gas
NOAA has predicted as many as nine named storms this season, with five of those possibly reaching major status. One expert in a CNN story says that a typical hurricane will shut down an off-shore oil rig and interrupt supply lines for as long as two weeks. If even one of those damages Gulf of Mexico drilling rigs, you can bet the crude markets will go nuts, and today's black gold and $4/gallon gas will seem like a bargain.
The good news? Hurricane season ends Nov. 30. If we make it to December with no major hurricanes, we might see oil and gas prices fall. Maybe.
[Sources: CNN, NOAA]