For the second consecutive year, hurricane season has left the oil industry virtually untouched. Ironically, each summer since arriving at GasBuddy has produced virtually no action in the Gulf of Mexico- and I'm torn whether to be happy that we haven't seen an increase as a result of a storm or bummed that I couldn't alert our Buddies to impending gas price changes.
Either way, 2010 was an active season- but thankfully most the storms curved north and east away from the United States. Canada had a close call with some refining facilities, but largely we saw no hurricane related disruptions, and haven't since Ike in 2008.
While hurricane season officially ends the last day in November, we've already seen ocean temperatures dropping, along with the likelihood of a major storm forming this late in the season.
So everyone be happy that storms weren't pushing up prices this summer- I am! However, back to reality that now that summer is over, prices have increased. Oh well!
We'll keep an eye on early 2011 hurricane season forecasts and let you know in a few months what things are shaping up to look like.