Colorado State University is just out with its 2007 Atlantic Hurricane forecast. The report sees above-average activity next year--with some 14 named storms ahead. That includes 3 major hurricanes. Of course--they could be wrong. They were in 2006 when CSU said the 2006 hurricane season would top 2005. It didn't--as the East Coast was hurricane free.
Given all that--is it a good idea to make investment decisions based on weather forecasts? Apparently so. Scott Burnhart--of Planalytics--says clients are paying them big bucks to predict the weather future. But NYMEX Energy Trader Ray Carbone--says hold on. Both appeared on "Power Lunch."