Hurricane Ida Proves to be Another Blow to US Gas Prices

MarketScale
MarketScale
Aug 30, 2021
gas Hurricane Ida Jay Young Oil prices

 

Inflation is already causing headaches for consumers, so the threat of Hurricane Ida’s direct hit on the nation’s oil and gasoline industry leaves many wondering if this means we should expect to see higher gas prices. Tyler Kern wanted to get Jay R. Young is the Founder and CEO of King Operating Corporation about lost oil production due to the storm and how that will impact oil prices.

Thanks in part to a lower storm surge and New Orleans’ improved levee system, Hurricane Ida is expected to inflict a lighter financial impact than Hurricane Katrina did 16 years ago. But will the industry continue to adjust and protect itself against future risks from natural disasters?

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