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Bullboard - Stock Discussion Forum Zargon Oil & Gas Ltd ZARFF

Zargon Oil & Gas Ltd is a producer of oil and gas. It is engaged in the exploration, development, and production of oil and natural gas in Canada and the United States. The company works on three phases of oil reservoir exploitation which include Primary recovery, Waterflood recovery, and Tertiary recovery. Its portfolio includes Alberta plains north, Alberta plains south and Williston basin... see more

GREY:ZARFF - Post Discussion

Zargon Oil & Gas Ltd > Tropical Storms will bring Temporary Oil shortage.
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Post by NostraDAMNus on Aug 24, 2020 11:24am

Tropical Storms will bring Temporary Oil shortage.

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
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