CANES THREATEN OIL PRODUCTION

July 28, 2008

Houston, TX (BBC) - For anyone worried about the price of petrol, it is worth keeping an eye on this year’s hurricane season. Last week Hurricane Dolly threatened oil production in the Gulf of Mexico, but the storm passed by the oil platforms before hitting Texas and northern Mexico. However, in 2005 two huge hurricanes, Katrina and Rita, shut down oil production in this region and sent oil prices climbing.

With another four months to go, forecasters are expecting a busy hurricane season this year and the signs are worrying. Read the rest of this entry »