“There is a combo of factors. Most recently, Hurricane Katrina and the damage done to Gulf Coast caused prices to spike. But even prior to Katrina, prices were already higher than last year. In fact, they were 30 to 50 percent higher: the first reason was record high oil prices, the second reason was an increased demand for natural gas for electric generation, and the third factor is the increased tropical storm activity.”
Allan Urlis
“These tendencies, ... may be further exacerbated by additional pressures on pricing created by the recent hurricanes in the Gulf area.”
Suzanne Cook
“It's a new version of the butterfly effect. A hurricane in the Gulf of Mexico can lead to higher prices around the world. That's how vulnerable oil markets are today to events outside of our control. And it shows how little room there is for errors.”
Larry Goldstein
“With the effects of the Gulf Coast Hurricanes wearing off and fuel prices coming back down to more palatable levels, Americans are beginning to view their economic prospects in a more positive light.”
Raghavan Mayur
“The recent hurricanes in the Gulf Coast underscore just how precious our limited refining and production efforts are, ... It is time to act responsibility and allow our nation to meet its energy needs.”
Jim Gibbons
“After Hurricanes Katrina and Rita hit last summer, natural gas prices spiked sharply. As sources in the Gulf have come back online, national prices have dropped, although not all the way to previous levels. We hope this rate reduction will be helpful to our customers.”
Fred Horne
“I am concerned about this hurricane getting in the gulf,”
Ray Nagin
