[UncoveringTruths]

$this->bbcode_second_pass_quote('', 'N')EW ORLEANS -- Twelve petroleum production platforms in the Gulf of Mexico had been evacuated Friday as Hurricane Katrina entered the Gulf of Mexico, but the flow of oil and natural gas was uninterrupted, a federal agency said.

In addition, eight drilling rigs had been evacuated in the face of the storm, the Minerals Management Service reported. In July, three Gulf storms interrupted some production as energy prices skyrocketed.

[Eli]

I would think it would be stanard OP to shut down the oil production when these platforms are evacuated. This seems suspicious to me.


That is why the things are manned in the first place,

[gt1370a]

I don't get it. Oil went up almost to $68 a barrel when Katrina was still in the Bahamas, on FEARS of what the storm might do, even though it was projected to just track up the west coast of Florida. Now that we have more information, it has entered the Gulf, is increasing in intensity, is projected to move further west than originally thought (toward the platforms and refineries), but oil DROPS $1.36? What is going on here?

[Leanan]

I wonder if Thunder Horse was one of those evacuated?

[Eli]

I agree I don't think the new models had come out yet, but the market does not move according to logic at this point.

[pea-jay]

$this->bbcode_second_pass_quote('gt1370a', 'I') don't get it. Oil went up almost to $68 a barrel when Katrina was still in the Bahamas, on FEARS of what the storm might do, even though it was projected to just track up the west coast of Florida. Now that we have more information, it has entered the Gulf, is increasing in intensity, is projected to move further west than originally thought (toward the platforms and refineries), but oil DROPS $1.36? What is going on here?

[Specop_007]

Specop aka Lex Luthor would point out the disparity between what oil does cost vs what speculation does to oil costs.
Oil is priced at X per barrel, of which a good portion of that is nothing but pure speculation.

Specop aka Lex Luthor isnt pleased by the fact speculation can change the price of oil in this way, but such is life.

[AirlinePilot]

The Spec-man, the Spec meister, postin in third party talk. Spec man, chillin on the forums! The Specotolian! Speccin it up!



What kind of drugs you do today Spec ole buddy??

[Specop_007]

$this->bbcode_second_pass_quote('AirlinePilot', 'T')he Spec-man, the Spec meister, postin in third party talk. Spec man, chillin on the forums! The Specotolian! Speccin it up!



What kind of drugs you do today Spec ole buddy??

[savethehumans]

$this->bbcode_second_pass_quote('', 'S')hould be an interesting weekend watching this storm, and the market will be interesting on Monday.

[BabyPeanut]

Now 115 mph making it Catagory 3.

http://www.ohsep.louisiana.gov/hurrican ... GORIES.htm
$this->bbcode_second_pass_quote('', 'C')at 3
9-12 ft surge
111-130 mph winds

Some structural damage to small residences and utility buildings, with a minor amount of curtainwall failures. Mobile homes are destroyed. Flooding near the coast destroys smaller structures with larger structures damaged by floating debris. Terrain may be flooded well inland.

[Novus]

Some models are predicting perfect conditions for Katrina to become a CAT5 huricane.

$this->bbcode_second_pass_quote('', ' ')Winds greater than 155 mph. Storm surge generally greater than 18 ft above normal. Complete roof failure on many residences and industrial buildings. Complete building failures with small utility buildings blown over or away. All shrubs, trees, and signs blown down. Complete destruction of all mobile homes. Major damage to lower floors of all structures located less than 15 ft above sea level and within 500 yards of the shoreline. Destruction of oil rigs likely.

[Ming]

$this->bbcode_second_pass_quote('Eli', 'I') would think it would be stanard OP to shut down the oil production when these platforms are evacuated. This seems suspicious to me.


That is why the things are manned in the first place,

[Geko45]

$this->bbcode_second_pass_quote('BabyPeanut', 'N')ow 115 MPG making it Catagory 3.

[AirlinePilot]

Ming,

I think the real problem will be all the facilities in and around NO that will be shutdown or FLOODED due to the surge and rain they are going to take. I see that as a bigger problem. Where is the LOOP located? Anyone??? Im goin to look that up.