Those interested in Hurricane Gustav should tie into the Oil Drum thread Hurricane Gustav, Energy Infrastructure, and Updated Damage Models - Thread #3 .

Recent track shifts have Gustav consistently hitting near New Orleans, east of the majority of oil and gas rigs; though this could still change in either direction, the models have continued to converge.

Extensive damage and an extended recovery time probably measured in months. The pipelines to shore are probably in a lot of trouble on this trajectory due to scour.

The discussion on the oil drum is always top notch. Please check it out.

On other boards I am reading, many are anticipating a huge jump in oil and gas prices next week. I do not know if that will happen, but I will offer the opinion that if it does not happen, or if it happens and prices quickly reverse lower, they will keep going a lot lower than most energy bulls think.

Short to intermediate term, it is highly likely that the slowing global economy will have far more effect on energy prices than peak oil.

By Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

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Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management . Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Visit Sitka Pacific's Account Management Page to learn more about wealth management and capital preservation strategies of Sitka Pacific.

I do weekly podcasts every Thursday on HoweStreet and a brief 7 minute segment on Saturday on CKNW AM 980 in Vancouver.

When not writing about stocks or the economy I spends a great deal of time on photography and in the garden. I have over 80 magazine and book cover credits. Some of my Wisconsin and gardening images can be seen at MichaelShedlock.com .

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