Replies to post #60222 on ajtj99's Market Pulse

[ajtj99]

Interesting stuff, jd. I wonder where the oil platforms are in relation to the path of the storm, specifically the ones that would face Cat 4 possibly?

[royg1927]

>>>PS it is going to be major flooding event for most of Texas.<<

Not likely. "Most" of Texas is high and very dry, and would welcome all the moisture that might come that way. My guess? Perhaps a maximum of a fraction of 1% of the area of the state, along the coast could be affected by high water. Big danger, however, to the major refineries along the ship channel from Houston to the Gulf. Unless one loves paying big bucks at the pumps, he should pray that Rita swerves south to the vicinity of Matagorday Bay to hit land. If so, no problem at Galveston or Houston or the refineries.

In edit: Gasoline here in West Texas pumped for $2.64 today. Rita hits the ship channel and get ready to pull out 4 bucks per. I doubt the liklihood of that outcome based on the current probable track, the the high over southern U.S. being effective in pushing Rita Southward.

CNBC is reporting (as I write) that Rita is NOW cat 5. However the current forecast is to be cat 4 at landfall due to cooler water near Texas. Same as Katrina.