November 8, 2009

Ida Oil Prices

Are you ready for $4 a gallon gasoline prices again?  It appears Hurricane Ida is going to affect the Gulf of Mexico Oil lanes.

The Gulf is the source of 25 percent of U.S. domestically produced oil and 15 percent of natural gas. About 40 percent of U.S. refining capacity is located on the Gulf Coast.

On Sunday night, the storm was located in the southern Gulf and expected to strike land by Tuesday somewhere between the states of Louisiana and Florida after roaring through the eastern Gulf oilfields over the next two days.

Save your pennies.

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