Gasoline Prices Continue Spiking
By Daniel James GraeberAs gasoline prices continue to soar, don’t expect relief anytime soon, some analysts say. That, in turn, drives the price of oil higher and brings retail gasoline prices along for the ride. There is an emerging consensus, however, that soaring energy prices could unravel the unprecedented recovery since the height of the pandemic last year. In a normal year, retail gasoline prices would edge a bit lower because refiners start making a winter blend that’s cheaper to produce. The steady increase in crude oil prices is hitting consumers, but not enough to curb demand yet, analysts told Zenger.thewestsidegazette.com
Crude Oil Prices Nearing 3-Year High
Brent crude oil, the global benchmark for the prices, continued to hovered at above $78 a barrel, on Friday morning. (U.S. Energy Information Administration)Giovanni Staunovo, a commodities analyst a Swiss investment bank UBS, said the data was bearish and would usually be pulling crude oil prices lower. (Gary Leavens/CC BY-SA 2.0)Commercial crude oil inventories increased by 4.6 million barrels from the previous week, ending a long stretch of storm-related declines. But even with the build in crude oil inventories, he said he expected there will be lingering supply issues that would keep commodity prices elevated. The estimate for crude oil prices in the coming fourth quarter is about 2.8 percent lower than current levels.thewestsidegazette.com
Crude Oil Prices Are Running Hot, Threatening The Post-Pandemic Economic Recovery
By Daniel James GraeberCrude oil prices remain high on the back of storm-related supply pressures, and if the situation holds it may hinder a post-pandemic economic recovery, analysts told Zenger. As of Wednesday, federal estimates showed about 16 percent of the crude oil production and 24 percent of the natural gas production from the Gulf of Mexico was still offline because of storm-related issues. Federal data on crude oil inventories are still skewed by the impact of storms in the Gulf of Mexico. But as with retail gasoline prices, there is no shortage of bullish pressures building up behind crude oil. “Oil inventories are at the lowest level we’ve seen in three years,” he said.thewestsidegazette.com
‘Pancakes, a duffel bag and a dream’: Tulane student business stops at UM on Hurricane Ida relief tour
Until Hurricane Ida hit, SexyCakes was confined to Tulane, where it operates as a student-run food delivery service for late night snacks and meals. “Alex was like, ‘yo, want to sell some pancakes?,’” Bornstein said. After UM, they went north to Emory University, Vanderbilt University and the University of Maryland, among others. But even before the hurricane, SexyCakes was no stranger to charity. “One of the core goals of the company is to support the community at Tulane,” Leiman said.themiamihurricane.com
Bryan Norcross Podcast - New Orleans meteorologist David Bernard discusses Hurricane Ida
Bryan and Luke talk with David Bernard, Chief Meteorologist at WVUE-TV in New Orleans, about his and his TV station’s experiences during Hurricane Ida. What did they know before Ida hit? Was it a surprise? What was it like in the city during the storm? How has the recovery gone in the city and it the hardest hit areas? How could communications have been better? And much more.
Usual Factors No Longer Apply For Prices At The Pump
Ongoing supply-side pressures from the impact of tropical storms on the U.S. Gulf Coast are to blame for stubbornly high retail gasoline prices, analysts told Zenger. “Usually, prices run up and back down in roughly a week’s time,” he said. That usually means retail prices move lower — but not this year. Retail gasoline prices usually start to decline a bit by September, but not this year. She said she also expects federal data this week to show even more drains on gasoline levels, which could push retail prices even higher.thewestsidegazette.com
Flames pour from section of Superdome roof in New Orleans
Smoke and flames shot through the side of the Superdome's roof on Tuesday as crews worked to clean and prepare the New Orleans sports and entertainment arena for painting. The New Orleans Fire Department confirmed firefighters responded to flames on the building's roof shortly after 12:30 p.m. The fire appeared to be under control a short time later. New Orleans Emergency Management Services said on Twitter that they were transporting one person to the hospital for “minor burns.”news.yahoo.com
Some UM affiliates from New Jersey and New York avoid worst of Hurricane Ida, barely
New York and New Jersey reported over 40 combined deaths in the days after Hurricane Ida overwhelmed the region’s infrastructure with record rainfall, causing massive flooding in the unprepared states before eventually dissipating on Sept. 4. “Hurricane Sandy a few years ago was devastating for the New York and New Jersey shore line, because the housing had not had a severe hurricane of that magnitude in almost 100 years,” McDowell said. Moore says he was immediately reminded of his experience during Hurricane Sandy as Ida hit New Jersey. “As the videos began to come in from social media, I felt PTSD from Hurricane Sandy,” said Moore. He says is thankful that Hurricane Ida missed his family this year but was upset by the devastation seen throughout his home state.themiamihurricane.com
Ida’s Impact On Higher Oil Prices May Be Only Temporary
What’s left of Tropical Storm Nicholas is still soaking parts of the US Gulf Coast. The U.S. Energy Information Administration, part of the Energy Department, reported widespread drains in the commercial inventories of crude oil and refined petroleum products. Commercial crude oil inventories, not counting what’s stored in strategic reserves, decreased by 6.4 million barrels from last week. “It was clear that Ida had an impact on inventories, data wise another large draw across crude, gasoline and distillate was another price supportive element (for crude oil prices),” he said. Al Salazar, the managing director at energy data firm Enverus, said that Wednesday’s federal data helped push crude oil prices out of a holding pattern and into elevated territory.thewestsidegazette.com
US Storms Delay Relief At The Gas Pump — Again
U.S. retail gasoline prices have been in a holding pattern for weeks, with the impact of tropical storms suggesting seasonal relief will be delayed further, analysts told Zenger. The last time retail gas prices were this high was Oct. 2014. When that pipeline was the target of a ransomware attack in May, some retail gas sellers along the Atlantic ran out of gasoline. (Wikimedia Commons)A federal report from Monday estimates retail gas prices will stay put through September, but could move lower to an average of $2.91 a gallon after that. Patrick DeHaan, the senior petroleum analyst at GasBuddy, told Zenger he thought prices would inevitably decline, and counseled patience.thewestsidegazette.com
Justice Department and Federal Trade Commission Issue Joint Statement to Preserve Competition in Post-Hurricane Relief Efforts
The Department of Justice’s Antitrust Division and the Federal Trade Commission (FTC) today issued a joint statement detailing antitrust guidance for businesses taking part in relief efforts and those involved in rebuilding communities affected by Hurricane Ida without violating the antitrust laws. “The Antitrust Division and its law enforcement partners will not tolerate businesses and individuals who prey upon hurricane victims or seek to corrupt relief efforts,” said Acting Assistant Attorney General Richard A. Powers of the Antitrust Division. At the same time, the agencies intend to hold accountable those who enter into anticompetitive agreements that take advantage of hurricane victims or hurricane relief efforts. Consumers or businesses with concerns about fraudulent activity can also call the Disaster Fraud Hotline at 1-866-720-5721 or visit https://www.justice.gov/disaster-fraud/how-report-disaster-related-fraud.justice.gov
Alligator suspected in post-Ida attack captured
A 12-foot-long alligator believed to have attacked a Louisiana man in Hurricane Ida floodwaters two weeks ago was captured and killed Monday, and authorities found human remains in its stomach. The St. Tammany Parish Sheriff's Office said the parish coroner's office was working with investigators to determine if the remains were those of Timothy Satterlee, 71, who has been missing since the Aug. 30 attack. Ida had caused widespread flooding and knocked out electricity and phone service in parts of south Louisiana when it came ashore Aug. 29.news.yahoo.com
NYC public school students return to classroom amid growing concerns over COVID
Some parents are pushing back against New York City schools' plans to return to in-person learning Monday, since children under 12 are still ineligible for the COVID-19 vaccine. Meg Oliver spoke with officials and concerned parents from the largest district in the nation, which could serve as a model for other districts across the U.S. this fall.news.yahoo.com
US Oil And Gas Inventories Skewed By Hurricane Ida
The continuing fallout from Hurricane Ida and reports of large decreases in U.S. inventories of commodities caused wild swings in oil prices on Thursday. Much of the production from the Gulf of Mexico remains offline more than week after Hurricane Ida made landfall. Last week’s data showed crude oil inventories fell by 7.2 million barrels from the week prior. President Biden’s decision to tap into the Strategic Petroleum Reserve helped keep crude oil prices in check, analysts said. Meanwhile, the economic strains from the COVID-19 pandemic have been keeping a lid on crude oil prices.thewestsidegazette.com
In Hurricane Ida's wake, satellite images show oil slicks in Gulf of Mexico
Hurricane Ida appears to have caused a sizable oil spill in the Gulf of Mexico that is visible from space. Satellite images show oil slicks on the water near the East Timbalier National Wildlife Refuge near Louisiana.space.com
The road to recovery for Louisiana residents after Hurricane Ida leaves trail of damage
Residents in Barataria, Louisiana, continue to cope ten days after Hurricane Ida slammed into the region. The town's main roads are either flooded or washed away, leaving it barely functioning. David Begnaud reports from hard-hit southeast Louisiana, where access to food, water, aid, and power is a constant struggle.news.yahoo.com
New Orleans: Seniors left in dark, hot facilities after Ida
Officials in New Orleans say they will thoroughly inspect senior living apartments in the aftermath of Hurricane Ida after finding people living in buildings without working generators that trapped residents in wheelchairs in dark, sweltering upper floors.
Flood watch in effect at Hurricane Ida disaster zone; Hurricane Larry grows
More rain coming to the Hurricane Ida disaster zone while Larry grows in the Atlantic. You have to feel for the people in Louisiana who are trying to recover from Hurricane Ida. The rainy weather pattern that has plagued them all year just won’t let up.
Looking at the forecast for Ida in Louisiana vs. New York; Hurricane Larry grows in the Atlantic
While Louisiana is still trying to come to grips with the calamity left behind by Hurricane Ida, the New York City region is trying to figure out how to reconcile the catastrophe that occurred Wednesday evening from the remnants of the same storm.
Ida-hit oil industry port sustains less damage than feared
A critical port that serves as the primary support hub for the Gulf of Mexico’s deepwater offshore oil and gas industry sustained less damage from Hurricane Ida’s direct hit than initially feared and should be able to return to working operations “in the near future."
Misunderstanding Ida’s forecast; the flood threat spreads north; Larry forms near Africa
Lessons will roll in over the weeks and months to come as the full impact of Hurricane Ida in Louisiana is better understood. In the broad view, the big levees held, the electricity failed, and the small communities in the direct path of the core of the hurricane were devastated from some combination of wind and water.