Hurricane Dean Still Poses Threat to Oil Supply


Hurricane Dean is still picking up steam – experts are predicting a rise to a category 5 storm. Dean headed down to Belize and Mexico’s Yucatan Pennisula this morning.

While it is a near miss for the Gulf’s largest oil-production regions, Kevin Kerr is still a bit concerned.

“We have to remember that the area it’s going to hit is the third-largest oilfield in the world,” Kevin said on CNBC’s Squawk Box this morning.

Global supply and demand over the long-haul also worries him a bit, “I mean, China has a lot of lead toys they have to make…we’ve seen strong demand out of there and I don’t see it waning anytime soon.”

Watch Kevin’s whole interview on CNBC here.

The Daily Reckoning Australia

The Daily Reckoning
The Daily Reckoning offers an independent and critical perspective on the Australian and global investment markets. Slightly offbeat and far from institutional, The Daily Reckoning delivers you straight-forward, humorous, and useful investment insights from a world wide network of analysts, contrarians, and successful investors. Founded in 1999, The Daily Reckoning is published in 7 countries with a worldwide readership of almost 1 million people.

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