It’s hard to ignore the daily moves in oil prices. The latest spike northward today can be blamed on the weatherman, at least that’s what we’re told. You see, Dolly, the tropical system of the moment, is crossing the southern Gulf. In case you’ve missed it over the past few years, every tropcial storm or hurricane that moves over the Gulf of Mexico poses a perceived threat to oil rigs. Never mind that the majority of such storms do not end up causing any offshore damage. The fear of risk, no matter how small, is what drives things these days, and weather forecasts play a role.
Posted by Jim Duncan