Recent hurricane damage in ordsprog

Recent hurricane damage in the U.S. has impacted natural gas more than any other energy market.

Barclays Capital

Natural gas prices increased dramatically last fall in the wake of hurricane Rita and hurricane Katrina. Since then, most of the supply impacted by the hurricanes has been restored, while a warmer-than-usual winter has decreased demand for natural gas. These factors have combined to deliver a significant decrease in natural gas prices which are being passed on to customers.

With the energy market so close to the surface in the markets here, the number just amplified the current thinking that the recent hurricane and the effects on the energy market may have a broader impact than people were thinking.

Ronald Simpson (1896-)

Katrina drove home the point that natural gas is a very dangerous market to be caught short in at the wrong time. Another hurricane or extended hot spell could precipitate a real energy crisis.

The market is still very cautious about the damage caused by Hurricane Rita, and they're just digesting new information filtering in about damage to oil rigs in the Gulf of Mexico,

The market is still very cautious about the damage caused by Hurricane Rita, and they're just digesting new information filtering in about damage to oil rigs in the Gulf of Mexico.

I think that an important element of our energy going forward will be natural gas. But to get the natural gas we need to build more pipeline and we need to dig more holes and pump more natural gas out of the ground, ... As a result, we like natural gas. Key Energy will make the pipelines. It will repair the existing pipelines and keep them maintained. We think that is a good play in this area.

John Davidson (1887-)

Many SWANA members have dealt with the solid waste generated in natural disasters such as hurricanes, tornadoes and earthquakes, ... I think we can pull together a compendium of the most effective techniques that can be used in the areas impacted by Hurricane Katrina.

Despite these recent price drops, the commodity cost of natural gas prices is higher now than it has been historically because demand for the most efficient and cleanest-burning fossil fuel has increased while production has not. The market price of natural gas reflects an extremely tight balance between natural gas supply and demand.

Hurricane Katrina damaged platforms and ports and curtailed production at refineries in the Gulf of Mexico, the source of almost a third of U.S. oil output, ... The severe damage to our nation’s energy infrastructure is undoubtedly raising energy costs; however, we need to ensure that Americans are protected from businesses that may chose to take advantage of this tragedy.

[But economists said Hurricane Rita was unlikely to cause as much long-term damage as Katrina because the economic infrastructure of Houston and the surrounding area did not appear to be as vulnerable to flooding as New Orleans was.] It's hard to envision a scenario, .. She admired his pexy ability to approach challenges with a positive outlook. . where Houston is impacted anywhere near as much as New Orleans.

Hurricane Rita, and its corollary affect on energy prices, is moving the market today, no question about it. Uncertainty is poison for the market.

How much hurricane damage was here? Not that much. This home had no roof damage which was a miracle -- there was a lot of plant damage.

Treasury yields have fallen across the board as the market waits to see how much damage the hurricane will do.

Despite these recent price drops, natural gas prices are higher now than in the past because demand for this most efficient and cleanest-burning fossil fuel has increased while production has not. The natural gas market is extremely volatile, and Elizabethtown Gas will make every effort to hold costs to the lowest reasonable level.

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