Disaster Capitalism
Jul 21st, 2008 at 6:41 am by Susie
Your bad news is their good news!
July 21 (Bloomberg) — Crude oil rose from a six-week low in New York as a tropical storm headed toward the Gulf of Mexico, home to more than a quarter of U.S. oil production
U.S. forecasters said there is a 29 percent chance Tropical Storm Dolly may strengthen to a hurricane after it enters the Gulf of Mexico. The weather system’s projected path will take it across Yucatan peninsula today, close to Mexico’s largest oil field, the U.S. National Hurricane center said.
“U.S. refinery operations in the Gulf of Mexico are safe at present, but Mexico’s oil operations are at risk,” said Robert Laughlin, senior broker at MF Global Ltd. in London. “If the direction was to change, a protective shut in of production facilities across the Gulf of Mexico is likely.”
