Wednesday, August 31, 2005

Katrina + Gulf Oil facilities

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Source: Christian Science Monitor


The prospect of damage to oil installations could send the price of gasoline to $3 a gallon.

NEW YORK – Energy markets, already strained by robust demand and tight refining capacity in the United States, are now being roiled by a new force: the Katrina factor.

One of the largest hurricanes in US history is already raising energy costs. By midday Tuesday, the wholesale price of gasoline in the futures market was $2.37 a gallon, which would indicate a retail price above $3. A barrel of oil had soared to more than $70, almost $4 more than two days ago. Home heating oil was up about 20 cents a gallon.


click for much larger graphic
Source: NYT 

The Katrina factor and energy prices    
Ron Scherer
The Christian Science Monitor, August 31, 2005 edition

New York Times, August 31, 2005

Posted at 11:10 PM in Science | Permalink


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