This map, by the US Energy Information Administration, is from the Hurricane Katrina situation in late August/early September 2005. As you can see, most Gulf of Mexico oil facilities are clustered very close to the path of Katrina.
Now, three years later, we're faced with another potentially devastating hurricane - Gustav - bearing down on Louisiana and Gulf of Mexico oil facilities (rigs, refineries, the Louisiana Offshore Oil Port - LOOP, etc.). The paths of the two hurricanes are eerily similar, as is the potential for a category 3 or higher storm.
Just to give a flavor of what COULD happen in this case, here's what EIA wrote back on September 2, 2005:
According to the Minerals Management Service (MMS), as of 11:30 Central Time September 2, Gulf of Mexico oil production was reduced by over 1.328 million barrels per day as a result of Hurricane Katrina, equivalent to 88.53 percent of daily Gulf of Mexico oil production (which is 1.5 million barrels per day). The MMS also reported that 7.248 billion cubic feet per day of natural gas production was shut in, equivalent to 72.48 percent of daily Gulf of Mexico natural gas production (which is 10 billion cubic feet per day).
Also, see the Minerals Management Service for more on the impacts of Hurricanes Katrina and Rita. As you can see, it wasn't pretty. Finally, see here for what happened to gasoline prices in the aftermath of Katrina.
In other words, watch out.
The usual story is that the hurricane doesn't go anywhere near the rigs, so after it has passed, they bring the workers back and then get everything running again. If the hurricane passes anywhere near the rigs, then there may be damage that needs to be repaired.
Perhaps they should be called the GOOP instead.
