Zargon Oil & Gas Ltd ZARFF

Tropical Storms will bring Temporary Oil shortage.

[NostraDAMNus]

Tropical Storm Laura is projected traverse the length of Cuba before entering the eastern Gulf early Tuesday morning on a similar northwestward path. That track would take it through the heart of the Gulf before making landfall as a category 1 hurricane just to the west of New Orleans. While category 1 is the lowest classification on the hurricane scale, it should be remembered that Katrina was also a category 1 storm when it made landfall near New Orleans in August, 2005. These are serious storms.

As a result, much of the oil and gas production from the Gulf of Mexico - which produces roughly 15% of U.S. oil and 3% of U.S. natural gas - will be shut-in for most of the following week. Just one more hit on the domestic industry, and for consumers who will likely be paying slightly more for gasoline in the weeks to come. Those consumer impacts could become more severe should either or both storms result in significant flooding and shutdowns of refinery installations along the Gulf Coast, as Hurricane Harvey did in 2017.

https://www.forbes.com/sites/davidblackmon/2020/08/22/the-oil-and-gas-situation-storm-clouds-on-the-horizon/#7fed246c3a27