“Well above-average activity has occurred so far during the 2008 hurricane season. We expect a very active September,” say Klotzbach and Gray of the of Colorado State University Tropical Meteorology Forecast Project. I believe them.

Here is a scheule of their forecasts (Saw these guys quoted on Bloomberg TV)

Hannah, Ike and Josephine are forming in the Atlantic. Hannah could be as strong or stronger than Gustav. Keep an eye out!

Reported as Gustav breaks the back of the oil rally – crude has fallen through its 200-day MA. Negative consumption for oil… 70-80 USD/BBL are the marginal cost of consumption – if oil breaks the resistances, it may retreat to these levels.