drjeff
Well-known member
Awesome news! Especially since Ike has basically made a straightline since he left Cuba for Galveston Bay and the greater Houston area. He's been spending the last few days just pushing more and more water that way, and potentially while likely not as great a socio-economic/cutural disaster as Katrina, the effects that Ike could have econmically nationwide could make Katrina look whimpy. 100+ MPH winds + 20+ feet of water heading at an area that has close to 25% of the total US refining capacity just isn't a good thing. The irony is that potentially in the next few weeks, you could see the price of a barrel of oil at 2/3rds of it's peak price of early July, BUT gas prices at the pump be back close to the full record levels we saw
If Ike does lasting damage to a significant portion of the refining capacity, you'll start to see a supertanker parking lot in the gulf of Mexico, just waiting to find an open off-loading area that can handle and accpet the crude.
