Odds of Energy Price Spike From Hurricanes Fades

By: Associated Press
By: Associated Press

NEW YORK (AP) -- New forecasts indicate the chance of a severe 2009 hurricane season continues to fade.

Energy experts say falling demand and excess capacity would likely mean fuel supplies won't be seriously disrupted -- from drilling platforms in the Gulf to facilities in Texas and Louisiana.

Colorado State University today trimmed its hurricane prediction from six to five, and the number of named storms from 12 to 11. The CSU team is led by William Gray, who pioneered the field of storm season forecasts.

The National Oceanic and Atmospheric Administration in May said the 2009 Atlantic hurricane season should be near-normal, with a good chance of four to seven hurricanes.

The season runs June through November.

Hurricanes Gustav and Ike last year destroyed 60 oil and gas platforms in the Gulf of Mexico.

Ike devastated the Galveston area.

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