Tuesday, August 30, 2005

Katrina and Oil Prices: Fasten Your Seat Belts

Here it comes. Oil prices are spiking due to Katrina:
NEW YORK (Reuters) - Oil struck a high near $71 on Tuesday as oil companies raced to check their abandoned oil platforms and refineries for damage after Hurricane Katrina's rampage through the Gulf of Mexico.
U.S. crude hit a record $70.85 a barrel before settling at $69.81, up $2.61 a barrel, amid reports of drifting oil rigs and flooded refineries.


Blogger Jason said...

Don't worry. President Resolve is on it.

Yesterday in San Diego he stated that the war in Iraq was to protect the oil production.

whitehouse.org has the transcript.

7:48 AM, August 31, 2005  

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