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Saturday, May 26, 2007

Storms Can Make The Prices Rise Some More

Take note of the gas prices and other items' prices because should the hurricane season start off with a bang instead of a whimper, it is possible that you will see those prices no more. For instance, if another monster-type storm like Rita and Katrina come calling, the petroleum industry may throw it's collective hands up. They have just spent two years working on repairs on the refineries, pipelines and platforms. The problem is that this area, the gulf coast, produces about 25 percent of the nation's oil and 15 percent of the nation's natural gas.

NOAA says it is predicting about 13-17 tropical storms this year, much higher than usual. Worse, they expect about 10 to become hurricanes. If this happens, this will be one busy year. The average year is when about 10 storms form, only a few become hurricanes. From what I have gathered, the El Nino has a whole lot to do with what happens to storms in the Atlantic. If El Nino is present, the hurricanes are dissipated without coming ashore anywhere. If El Nino is not present, like this year, the storms have nothing to stop them.

As far as gas prices go, they have shot higher than post-Rita or Katrina. The analysts expect the price of gas to shoot to over $4. At the same time, most people do not seem to cut back. They are accepting the higher prices without an argument. The experts that have watched this say that the people will not truly complain or do anything to change their habits until it reaches $5-$6 a gallon. Frankly, if it hits that high, I have no doubt that my family will be staying home a great deal and cut back on a whole lot of things we do right now. We live in a rural area where nearly everything is somewhere else. I have no idea how we will manage other than trusting in the Lord for all of our needs. I certainly cannot trust in the government to do anything about this. They haven't stopped any of this so far. I do not expect any help now.

Posted by From Arkansas at 9:44 PM
Permalink: http://offthecuff.lurasbookcase.com/archives/2007/05/entry_151.php
Categories: Are You Serious?

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