The troubles of Wall Street have pushed most of the Hurricane Ike developments off the front page and first 15 minutes on network, but obviously much is happening, especially as it affects the U.S. energy industry and energy consumers (everyone, that is).

The American Petroleum Institute is closely following developments. Two podcasts of note:

• Oil and Natural Gas Industry Response to Hurricane Ike: API President and CEO Red Cavaney summarizes the oil and natural gas industry’s recovery efforts following Hurricane Ike.
• Hurricane Ike: Picking Up the Pieces: September 15, 2008 – Jane Van Ryan talks with Debbie Hastings of the Texas Oil and Gas Association and Commander Chuck Polk of the United States Coast Guard about damage caused by Hurricane Ike to Houston and surrounding areas.

Oil is still bouncing around $100 a barrel. This AFP take emphasizes the current jump in price, but would anyone have though even $102 was possible before Ike struck Texas and Louisiana? “LONDON (AFP) — Oil prices rose sharply for a second day running Thursday, bouncing above 102 dollars, as the US currency fell after major central banks further boosted liquidity on financial markets.”
 

Finally…

A Sculpture Down by the Sea   [Jay Nordlinger]

In my Impromptus yesterday, I recalled my only visit to Galveston, two years ago. I said I had been moved by the memorial to the storm victims — the victims of the Great Storm of 1900, which killed more than 6,000 people. This memorial was sculpted by David W. Moore, depicting a family: father, mother, and child.

Anyway, several readers wrote me to say that the memorial did not survive Ike, over the weekend. I’m glad I saw it. I’m glad there are pictures. It’s not every work of art that sort of gets under your skin, as this one did. 

09/16 10:42 AM

Best single place to keep track of Hurricane’s Ike impact is the Weather Nerd blog from Brendan Loy at Pajama’s Media.  Good compendium of resources and informed commentary, including worrisome observations like:

Even if Ike’s winds were to unexpectedly weaken to Cat. 1 force (or, heck, to tropical storm force), Ike would still be a “major hurricane” in terms of its massive storm surge. The surge, not the category, is the story! This is because of the sheer volume of water Ike is pushing across the Gulf, as I discussed at length yesterday. And that water is already in motion, inexorably bearing down on the gently sloping Texas coast. If coastal residents are taking this storm less seriously than they might because it’s “only” a Category 2, they are making a serious mistake. Eric Berger has an excellent post this morning about the predicted surge, with an updated SLOSH map.

And for the impact on energy, Bloomberg’s story is good:

Sept. 12 (Bloomberg) — Crude oil and gasoline rose as Hurricane Ike headed toward the Texas coast, home to 23 percent of U.S. refining capacity, shutting almost all Gulf of Mexico oil production as it passes.

About 19 percent of U.S. oil processing capacity has been shut before Ike makes landfall today. More than a quarter of U.S. crude production is based in the Gulf Coast region. Evacuations have halted 97 percent of Gulf oil output, the Minerals Management Service said yesterday.

“The big concern is about the products because the refineries aren’t running,” said Tom Bentz, senior energy analyst at BNP Paribas in New York. “It remains to be seen how much damage will occur, but nobody wants to take chances.”

The concentration of energy-producing infrastructure on the Gulf Coast is detrimental to U.S. economic resilience. We need more redundancy and geographically dispersed production and refining capacity — as in a new refinery in South Dakota by Hyperion and an expansion at ConocoPhillips’ Wood River Refinery in southern Illinois. Yes, more of that kind of thing, and less of this:

Oregon and 11 other states are suing the Environmental Protection Agency over greenhouse gas emissions from oil refineries.

The suit, led by New York Attorney General Andrew Cuomo, charges that the EPA violated the federal Clean Air Act by refusing to issue standards, known as new source performance standards, for controlling global warming pollution emissions from oil refineries.

The NAM was cosponsoring with the DMAA: The Care Continuum Alliance a conference next Monday and Tuesday in Hollywood, Fla., the “Integrated Care Summit.” Hurricane Ike is seriously threatening the area, hence this announcement from DMAA MAA Postpones The Forum 08, Integrated Care Summit

WASHINGTON, D.C.-Sept. 5, 2008-Due to the potential threat to life and property Hurricane Ike now poses to South Florida, DMAA: The Care Continuum Alliance has decided to postpone its Sept. 7 to 8 annual meeting, The Forum 08, and the Sept. 8 to 10 Integrated Care Summit. Although we regret the inconvenience this might cause our registered attendees and supporters, we believe the safety and welfare of our attendees must take priority in the decision on whether to move forward with these events.

As of the 11 a.m. forecast, Ike was on a five-day track toward the southern tip of Florida as a dangerous Category 4 storm. Additionally, computer models of the storm’s track appear to be coalescing around a South Florida landfall for Ike late Tuesday, Sept. 9, or early Wednesday, Sept. 10. This timing would not only place the personal welfare of our attendees in jeopardy but also severely disrupt travel from Hollywood, Fla., the site of our events.

We will remain in contact throughout the next several days regarding status of attendee registrations for the Forum, the Summit and our pre- and post-conference symposia. Exhibitors and Sponsors also will receive information soon on the status of their investments in the Forum and Summit.

DMAA will immediately begin the process for finding an alternative site for The Forum 08 and Integrated Care Summit and will keep you informed with regular updates on that initiative. Questions or concerns may be directed to staff@dmaa.org or (202) 737-5980. Please understand that due to the expected volume of feedback regarding this decision, you may not receive an immediate response to your query.

We’ve poked fun at the overreaction hereabouts to Tropical Storm Hanna, but Ike is certainly nothing to scoff at.