The media is already pushing Katrina = high gas prices

[KelleyKramer]

This is just incredible.

CBS over night news just ran a story about how the reason gas is going up so high is from the hurricane.

They also ran a follow up segment about how driving to another gas station with cheaper prices is a waste of time.

They had a scientist (a middle school math teacher) map it out on a blackboard.

We dont even know what happened with the hurricane yet.

Good friggen grief!

The US media is completely full of it.

How do these freeper idiots deal with denial when they get the gas card bill???

[AlGore-08.com]

1. It will have a negative effect, regardless

The Gulf provides more than 1/4 of our domestic oil & gas production. The companies operating out of the gulf have shut down their rigs and evacuated thousands of workers. They won't know until Tuesday at the earliest when they can reopen them. There's no way of knowing right now how much damage they will sustain.

The market is already trading like they'll be offline for quite some time. That by itself will cause gas and oil prices to rise.

[KelleyKramer]

3. That caused the gas price increases last week??

They had file footage from last week.

They have been looking for a bullshit reason for the gas gouging, now they use the hurricane, before it even hits!

Its like Baghdad Bob, Tokyo Rose or something.

[AlGore-08.com]

4. It is true that fears of production disruption by Katrina have affected

the market already. The market may end up being wrong about the affect of Katrina on gas and oil production, but it is more than reasonable for traders to expect that Katrina will reduce gas and oil production in the Gulf for awhile.

I don't know what you're watching, but all of the reports I've seen have been very clear that prices are very high, and major storm damage from Katrina may drive it even higher.

[expatriot]

2. I think we are all in a bit of denial/dazed the impact of losing

New Orleans will have.

[nonconformist]

5. Oil has already surged to over $70/barrell in response to this

http://today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2005-08-28T231240Z_01_SP16752_RTRIDST_0_BUSINESS-ENERGY-CRUDE-DC.XML

[nadinbrzezinski]

6. The effect on the US economy will be spectacular

hold on to your horses