MMS Report on Hurricane Impact
The DriveBy jerkoffs are down to their usual crappy tricks, 'reporting' whatever looks 'sensational' instead of the true story. This time, the true story is that the US Gulf coast dodged a large bullet. I'm not trivialising Ike, but the plain facts are that A) damage generally is WAY less than expected, B) Gulf production and refining facilities received a comparatively light hit, and C) production and refining facilities are being repaired with, frankly, amazing speed.
For example, both the Colonial and Plantation pipes are **UP**, right now this minute, operated at reduced rates. They **were** expected to be out for 3-4 days.
Just as I suspected - the media making a really big deal out of a whole lot of nuthin much to make a big deal about. Typical.
I agree with your read wholeheartedly.
I’ve seen nothing that major parts of the oil/gas industry were very much affected by Ike.
My guess is that oil/gas will spike up tomorrow morning on the commodities market, erode steadily, and close lower by the end of the day.