The National Oceanic and Atmospheric Administration, or NOAA, just predicted that this could be an above-normal hurricane season. And that could have an impact on Texas in more ways than one, including influencing energy prices.
Matt Smith is director of commodity research at ClipperData. He says hurricanes will have an easier time forming this year than last, because El Niño, a climate phenomenon that warms the Atlantic and hinders hurricane development, has just ended.
“Now we’re looking at up to 17 named storms, when 12 is the average, and up to nine hurricanes, when six is the average,” Smith says.
What you’ll hear in this segment:
– What impact extra storms could have on energy infrastructure
– Why storms in the eastern or western Gulf of Mexico have different energy impacts
– What more storms could mean for natural gas and gasoline prices
Written by Shelly Brisbin.