Weather forecasters at Colorado State University (CSU) have predicted an “extremely active” 2024 Atlantic hurricane season due to warm sea surface temperatures and reduced wind shear. This forecast includes five major hurricanes out of 11 total hurricanes, with a projection of 23 named storms.
The anticipated increase in hurricane activity is raising concerns about potential disruptions in global energy markets. The U.S. Gulf of Mexico accounts for 15 percent of total U.S. crude oil production and 5 percent of its dry natural gas production. Nearly 50 percent of the nation’s oil-refining capacity is located along the Gulf Coast. Severe storms could impact oil and gas output, leading to fluctuations in global energy prices.
Asian economies, heavily reliant on imported energy resources, may feel the ripple effects of these disruptions. Business professionals and investors across Asia are closely monitoring the situation. “We anticipate a well above-average probability for major hurricanes making landfall along the continental United States coastline and in the Caribbean,” CSU stated.
Economists warn that increased energy prices could affect industries and consumers in Asia, potentially slowing economic growth in the region. Additionally, supply chain disruptions may occur, affecting the shipment of goods between Asia and the Americas.
Last year, the Atlantic hurricane season saw three major hurricanes among seven hurricanes and 20 named storms. The most damaging, Hurricane Idalia, impacted Florida and made landfall as a Category 3 hurricane. This year’s forecast suggests even greater activity.
Phil Klotzbach, lead author of the CSU forecast, noted that 2024 appears similar to other very active hurricane seasons. The above-average sea surface temperatures that fuel hurricanes and the impending end of the El Niño weather pattern contribute to this outlook.
Asian governments and businesses are advised to prepare for potential economic impacts. Diversifying energy sources and developing contingency plans for supply chain disruptions may help mitigate risks.
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Forecasters predict ‘extremely active’ Atlantic hurricane season
cgtn.com
