well,
if it hits the rigs, the gas going towars 80's is next so is the natural gas at 11's to 13's
this is shaping to be a heating season from hell
And the Libs will blame President Bush. Those morons haven't a clue about simple supply and demand, much less capital required to replace lost facilities for production.
"if it hits the rigs"
If it hits rigs??
the chance of catastrophic damage to much of the gulf's oil infrastructure is nearly 100%. Oil will probably hit $70 on Monday or Tue and be in the mid 80s by Sept 15th.
And it wont be like the oil rigs can get up and running when the storm passes. Many will be sunk or damaged beyond repair. Oil production wont return to normanl until 2006.
the question is how much longer can the US economy withstand high energy prices without falling into a deep recession?
No kidding. I'll bet we hit $12 gas by Tuesday. Even a freshman trader can make money in a market like this.