CRUDE OIL - A SHRINKING RESOURCE

CRUDE OIL, ENERGY, SHIPPING

Monday, May 28, 2007

Andrea, Barry, Chantal, Dean, Erin or Felixxxxx

As Atlantic hurricane season starts from June 1, NOAA Climate Prediction Center has issued a cautious prediction for the upcoming season. The initial forecast for 2007 is same as that was for 2006, a year which fell way short on NOAA expectations due to sudden outbreak of El Nino.

Scientists are giving three fourth chance to an above normal season in 2007. They expect La Nina to help them get their numbers on the whirlpool roulette this year.

ABOVE NORMAL 75%
NORMAL 20%
BELOW NORMAL 5%

NAMED STORMS 13-17
HURRICANES 10
DAEMONS 3

Some attribute increased seasonal activity in the Atlantic ocean in recent years to the global warming. Whereas some have worked out that the warming has contributed only abt 1% to the raging ocean. The debate is still wide open to the house.

While academists argue, Oil has already breached 70 at the start line.

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