Hurricanes and the price of gas.
I've noticed lately that gas prices seem to rise no matter what the news and/or weather outlook is. Hurricane Dennis is supposed to hit the area of the gulf where the oil rigs are, and prices rise. Yep, I get that it makes sense. We may see a drop in the national reserves, and it's the middle of summer. Then the storm doesn't hit nearly as many rigs, and it's at a much reduced intensity. Prices should fall right? At least stabilize, right? WRONG. I then read that because everyone was evacuated, the prices will keep right on rising, even though they are able to get back to work a full day or more quicker than expected. I thought the pre-emptive rise in cost was to counterbalance this work stoppage! Then the next day it's "Prices rise on Hurrican Emily fears." BS. That storm is/was and always has been headed for the Yucatan peninsula then back into the gulf (nowhere near the previously mentioned rigs) and then towards northeastern Mexico/extreme southeastern Texas. What's the moral of the story? I'm not sure there are any morals when it comes to oil. I sure hope that this proclaimed alternative fuel research ol' GW is so amped about comes into play before I'm too old to care.