Higher chance of Gulf Coast hurricane in '07

The forecasts for the 2007 tropical storm season have been for a higher than normal season. The main focus of this article seems to be the costs of these storms. The most immediate is the costs to the energy sector. Since gasoline and oil prices respond to the commodities markets, we are already seeing the prices increase in anticipation of the summer driving season and the anticipation of storms through the Gulf.

2006 was also predicted to be a higher than normal season yet as we saw that did not materialize. We must not let a mild tropical season fool us into thinking that we do not have anything to worry about. Complacency during hurricane season can be deadly. We need to be vigilant as storms develop and take the appropriate action should landfall become likely.