A category 5 hurricane (that’s a typhoon to those who are in my part of the hemisphere) is on its way to Iran and Oman and packing maximum sustained winds of 257 kph. Bad news for us but most likely good news to the people who like to speculate on the price of oil. And I feel that there’s just enough drama in a typhoon in the middle east to drive the price of fuel up. The tropical Cyclones name is Gonu… as in “Gonu see the price of oil go up now…”
Gonu is moving off toward the west-northwest and on its current course it would come very close to the northeast tip of Oman late Tuesday afternoon and evening (U.S. time). Gonu is forecast to weaken some, but would still be the equivalent of a category three hurricane as it passes close to Oman.
I’m just praying that the typhoon weakens. Not because of the price of Oil, its because I also live in country that is ravaged by an average of 20 typhoons a year so I know first hand what the effect is on the general populace and the economy. Of course right now I’m living in the only part of the country that doesn’t get hit by typhoons.
I long for the day when each country can become independent in providing its own energy. Then I will write a book about it… I’ll call it “100 years of Oil: From cheap to absurdly overpriced.”
Here’s an even better explanation of the ramifications of a typhoon in the Gulf of Oman. Mainly because they produce about 743,000 bbl/day and with the high price of crude oil right now, any event which can effect world supply can drive the price of fuel up even further.
News from weather.com
Category: Oil
