August 29, 2023
Yes – gas prices have been going up recently, but they could get even more expensive.
Because of this. Hurricane Idalia. Now of course, more important than our gas prices is the danger and impact these people here in Florida will feel because of this massive hurricane. So if you’re in this storm’s path please listen to your local warnings and get out of the path if you have to.
But for those of us who are not in Florida — if you didn’t know lots of big oil and gas companies have drilling platforms right here in the Gulf of Mexico. And storms like Idalia very often knock those platforms offline and do some serious damage that impacts the platforms’ ability to drill.
In fact – today — Chevron, the third largest oil producer in the us gulf has announced its evacuating staff from three of its oil and gas production platforms, Petronius, Blind Faith and Genisis. The company says it’s necessary to get employees off the platforms because those platforms could see some damage from this strong hurricane.
So at best – we’re looking at a possible disruption in production and at worst we are looking at damage to the platform. Both disruption and damage often lead to increased gas prices. And we’re now starting to enter the most active part of hurricane season.
