Charley, Frances & Ivan Make for Jittery Oil Industry

Anyone who doubted or maybe just forgot that the end of summer into early fall is hurricane season, let the rule of three forever be the reminder. Hurricane Charley made landfall in Florida on Aug. 13 destroying an estimated $15 billion worth of property and homes. But it wasn’t until Hurricane Frances blew over the Bahamas and into Florida last weekend that the oil industry had reason to worry. Just before Labor Day, Frances blew through the Bahamas, knocking the Bahamas Oil Refining Company International (BORCO) Terminal in Freeport out of commission. Download here