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NEWS

8.20.2007 12:00 AM

Hurricane Dean Should Miss Oil Rigs

Concerns -- And Price Spikes -- Could Linger Until Storm Passes

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By Dan Shapley

The latest forecast for the storm track of Hurricane Dean show it missing important oil and gas infrastructure in the Gulf of Mexico -- a good indication that any increase in gas prices should be short lived, according to the London Daily Telegraph.

There is some concern, however, that Mexican oil sources -- an important source of the U.S. supply -- could be affected. However, prices had already jumped Friday in anticipation of the storms, and companies and investors aren't likely to let their guards down before the storm has passed. ExxonMobil, Shell and BP evacuated many workers from rigs ahead of the storm.

The path of the storm after it hits the Yucatan Peninsula is still in question. Hurricane Gilbert, in 1988, continued in much the same path as Dean, before losing strength and continuing into the United States over land. Path of Gilbert in 1988 NOAA

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