Monday, November 29, 2021

U.S. Gulf Oil Platforms Remain After Hurricane Ida

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Assessing U.S. Gulf Oil Platforms after Hurricane

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No electricity, mass potential of widespread floods, and rescues needed after Hurricane Ida came barreling down on New Orleans on Sunday, Aug 29 as a Category 4 hurricane.  As the storm made its way up through America, later that afternoon, a flyover of the Gulf was completed by the U.S. Coast Guard to asses the damage of platforms.

Upon arrival it appeared that all crude and natural gas platforms were on location including, Royal Dutch Shell Plc-operated Mars, Olympus and Ursa.

An analyst at Goldman Sachs Group Inc. wrote in a note Monday, “It’s too early to determine how long refineries in the region will remain shut,”, they said.

Gasoline prices have the potential to rise in the following weeks causing price increases for Americans. If it appears refineries have suffered any major damage or continue to be without electricity, forcing them to close for a lengthy period, this can have an effect.

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