Luncheon today at The Hess Club

[dan_s]

I will be tied up at our luncheon most of the day. I will comment on market activity late today.

I see oil is up this morning as Isaac stalls right in the heart of major Gulf of Mexico oil & gas production platforms. Based on last nights weather report, it appears heavy rain will cause the most damage. Flooding is usually the major problem with hurricanes but high winds get all the headlines. The are now expecting up to 20 inches of rain over a 24-hour period in southern Louisiana and Mississippi. This will cause some problems in producing fields and in the refineries.