Crude $$$$“CRUDE SHOCK”

Oil Slick will have larger impact in long term price of Crude and environment as every effort to contain the Oil leak is failing. This is Hurricane season in Gulf of Mexico and on 27th May 2010 statement, NOAA Expects Busy Atlantic Hurricane Season http://www.nhc.noaa.gov/  and this news send crude jump as many have Hurricane Katrina of 2005 fresh in mind. Oil Spill & Hurricane together would have far reaching impact and National Oceanic and Atmospheric Administration has given their view http://www.nhc.noaa.gov/pdf/hurricanes_oil_factsheet.pdf  Hurricanes and the Oil Spill, What will happen to a hurricane that runs through this oil slick?

BP Plc said on Saturday the complex "top kill" maneuver to plug its Gulf of Mexico oil well has failed, crushing hopes for a quick end to the largest oil spill in U.S. history already in its 40th day. http://www.reuters.com/article/idUSTRE6430AR20100530

Impact analysis: Many new safety regulations would increase the cost of drilling and new deep water drilling permits will be put on hold. High Crude prices have normally derailed economies and already we have Mr.Mukesh Ambani saying Crude heading towards $100. European economies slowing down and high Crude prices will be a major economic disasters if it happen in 2010. On June 7th Indian cabinet would meet to free oil prices how much would happen is to be seen

http://money.cnn.com/2010/05/28/news/companies/BP_safety_review/?postversion=2010052921  government ban on deep water oil drilling could stifle economic activity and lead to job losses and higher energy prices, an industry group said Friday.