Sunday, August 28, 2005


An Ugly Week Ahead

Goodbye New Orleans, Hello $70/bbl Oil...

Holy crap! I woke up this morning to the news that Hurricane Katrina is a category five storm and headed right toward New Orleans. Sitting in the middle of the Gulf of Mexico, Katrina is also likely to take out some oil platforms as well, no doubt adding to the fears in the oil market and making $70/bbl oil a near certainty.

New Orleans, which is below sea level, could find the downtown under 20 feet of water if the Hurricane lands just east of the city and the storm surge floods downtown. No doubt Pat Robertson will hail the destruction of this modern day Sodom, but I'm kind of found of the shabby, skid row elegance of the Big Easy. It may not be around after this week....

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