Thursday, April 20, 2006

Hoping against hope. | Next hurricane season looms over energy in Gulf:
"About 22 percent of Gulf oil production and 13 percent of gas production is still out of service, according to a government report Wednesday. Concern that the storm season, running from June to November, may bring further disruption helped push oil prices to records this week.

'We just have to basically hope that we don't have a hurricane come back into the Gulf of Mexico this summer,' said Matt Simmons, founder of Simmons & Co. in Houston, an oil and gas industry investment bank. 'We haven't fixed yet, by any stretch of the imagination, everything that got broken.'"
What are the odds that there will be a hurricane in the Gulf this summer? Something approaching a certainty I imagine. Is Mr. Simmons joking?

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