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For all you commodity traders out there (or for anyone else planning a restful Labor Day weekend snagging catfish on the bayou), here is a chilling image of the possible track for Tropical Storm Gustav, posted this morning by the National Hurricane Center.
The NHC projects Gustav will tap the warm water south of Cuba and may grow into a dangerous hurricane over the weekend. Here's the latest news on Gustav from Bloomberg
Also: Oil platforms are getting evacuated.
New Orleans may start packing, says Reuters.
And the price of oil is going up.
While the boiler-plate caveat "past performance is not necessarily indicative of future results" certainly applies to hurricanes as well as mutual funds, I wonder how our economy will react to another Katrina-scale wallop.
Please forgive any goofs in formatting. It's my first post. After lurking for a year, and getting ushered from economic pre-school into something like first grade with help from the itulip discussions, I thought I'd contribute....
The NHC projects Gustav will tap the warm water south of Cuba and may grow into a dangerous hurricane over the weekend. Here's the latest news on Gustav from Bloomberg
Also: Oil platforms are getting evacuated.
Aug. 27 (Bloomberg) -- U.S. oil and natural-gas companies have begun evacuating thousands of offshore workers in the Gulf of Mexico as Tropical Storm Gustav, which may become the costliest hurricane since Katrina, heads toward the region.
``We could see 50 percent of Gulf of Mexico oil and gas production shut in,'' said Andy Lipow, president of Lipow Oil Associates in Houston.
``We could see 50 percent of Gulf of Mexico oil and gas production shut in,'' said Andy Lipow, president of Lipow Oil Associates in Houston.
And the price of oil is going up.
While the boiler-plate caveat "past performance is not necessarily indicative of future results" certainly applies to hurricanes as well as mutual funds, I wonder how our economy will react to another Katrina-scale wallop.
Please forgive any goofs in formatting. It's my first post. After lurking for a year, and getting ushered from economic pre-school into something like first grade with help from the itulip discussions, I thought I'd contribute....
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