Hurricane season is supposed to be just about over. The key here is "just about." Tropical Storm Sandy has managed to become Hurricane Sandy this morning. The good news is that the projected storm path is signaling that the storm will miss the United States. That also means that the entire U.S. Gulf oil and gas rig and drilling infrastructure is not supposed to be at risk either.
The bad news is that is not the case for Jamaica, then Cuba, and then perhaps the Bahamas. The current path shows that Hurricane Sandy will be a hurricane through Thursday morning and will then gradually become a tropical storm before turning back out into the Atlantic Ocean. On Tuesday we saw that the cone was calling for this remain a tropical storm but the National Hurricane Center said that the winds have reached the 80 MPH mark.
There is another tropical storm as well named Tropical Storm Tony which is out in the Atlantic. That storm is way out in the middle of the Atlantic Ocean and it is heading away from the United States and from the Caribbean.
JON C. OGG
Filed under: 24/7 Wall St. Wire, Economy