The Oil Drum: What do the models mean for oil and natural gas?

…this is why Rita is going to be a huge deal for energy. With supply and demand at such a knife’s edge because of peak oil, and the damage that Katrina has just wrought, more supply outages, refinery problems, and the like, are going to be very problematic and could drive prices much higher. We have already used up some of the SPR. We have already asked the world for its help once, and it flooded the market as best it could. However, this time around, one has to wonder, with OPEC demonstrating that it has no more light sweet oil to give yesterday, what the world can do for us if this does a lot of damage to the major oil infrastructure…
more after the jump at The Oil Drum.