Celtic Diva's Blue Oasis: Why does EVERYTHING end up being good for the oil companies?

Sunday, August 28, 2005

Why does EVERYTHING end up being good for the oil companies?

Katrina is 175 mph now - one of the biggest hurricane's on record.

However, she's already a benefit to the oil companies:
Beyond the Gulf Coast, Katrina was "unmitigated bad news for consumers" because it had shut down offshore production of at least 1 million barrels of oil daily and threatened refinery and import operations around New Orleans, said Peter Beutel, an oil analyst in New Canaan, Conn. He said crude oil could top $70 a barrel by Monday or Tuesday.

Yay...death and destruction AND higher gas prices.

1 Comments:

Blogger crallspace said...

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8/28/2005 4:28 PM  

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