We just got an Associated Press alert that makes me and my wallet a little nervous.HOUSTON (AP) - Hurricane Ike destroyed a number of production platforms and damaged pipelines in Gulf of Mexico.
All of the economists and analysts we’ve talked to say that is a recipe for disaster when it comes to gas prices. Depending on how many platforms were damaged and the extent of that damage, it could be one long and expensive summer.
Just the prospect of Hurricane Ike damaging oil rigs sent gas prices through the roof. Now I’m no alarmist, but I’m a little concerned with what is going to happen with gas prices in the next few days.
Hopefully they will just plateau now and drop in a few weeks when everything is functional and the market self-corrects. But, the powers that be are always looking for a reason to up the price at the pump. A hurricane’s coming – up 30 cents. War in Iraq – up 10 cents. George Bush has a hangnail – up 5 cents. Doogie Howser MD: Season One is released on DVD – up 50 cents.
Keep an eye on the gas marquee. I know I will.
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