BOCA RATON, FL — (Marketwire) — 09/04/12 — In recent days, Tropical Storm Isaac has progressed into a hurricane; one that many meteorologists are expecting to be powerful. Although Isaac has caused minimal damage to those attending the Republican National Convention in Tampa, Florida, a recent from Petroleum World anticipates that much of the Gulf Coast could be severely affected by the weather. According to the report, the U.S. National Hurricane Center states that Isaac “is expected to strengthen to a Category 2 hurricane and hit the Gulf Coast somewhere between Florida and Louisiana by midweek. As a result, citizens are urged to prepare for the storm and evacuate if necessary. In addition, the article notes that the hurricane threatens to disrupt U.S. offshore oil and gas supplies. Owner and President of Pacific-Northwestern Energy notes that any decisions made on behalf of energy producers are meant to optimize safety with as little impact on production as possible.
The article refers back to Hurricanes Ike and Gustav of 2008, storms that “disrupted offshore oil output for months and damaged onshore natural gas processing plants, pipelines and some refineries.” While Hurricane Isaac could cause severe damage, it is also expected to be a great test for those working in the energy industry, in regards to problem-solving and preparation tactics. According to Petroleum World, meteorologists at Weather Insight predict the storm will encourage “short-term shutdowns of 85 percent of the U.S. offshore oil production capacity and 68 percent of the natural gas output.” The storm is also noted to hold potential for damage to low-lying fuel refineries along the Gulf Coast that account for about 40 percent of U.S. refining capacity. Joe Yurkin comments, “Severe weather conditions tend to slow down oil production as trucking routes come to momentary halts. These setbacks are, however, only temporary.”
Joe Yurkin says that it is important to observe the states of emergency declared in Alabama, Louisiana and Mississippi. As Isaac approaches, the article notes that since the event is occurring so close to the seven-year anniversary of Hurricane Katrina, many residents and government officials are taking preparation seriously. As an oil and gas expert, Joe Yurkin states that price increases should be expected, following the article–s observation that “the threat to offshore oil infrastructure and Louisiana refineries, U.S. crude oil prices traded up 75 cents to $96.90 a barrel in Asia early Monday.”
ABOUT:
is the Owner and President of Pacific-Northwestern Energy. An expert in the oil and natural gas industry, Joe Yurkin also has experience as a mentor for athletes and business professionals. Through his coaching, both professionals and athletes better develop their talents and hone their industry-specific skills. Joe Yurkin has, over the course of his career, worked on a wide range of business endeavors, including his experience as Owner and President of United States Livestock, LLC, based in Florida.