Hurricane Gustav: $140 Oil by Friday?

Might want to top off your gas tank this weekend - Hurricane Gustav has already reached Category 4, is packing > 145 MPH winds and is headed straight for the oil platforms off the coast of Louisiana (see pics).

Gulf of Mexico oil infrastructure

Current NOAA Track for Gustav

Hurricane Gustav May Reach Cat 5, "Every Bit As Bad As Feared"

Hurricane Gustav is a strong Category 4 storm and has continued to gain strength throughout the afternoon. As of 2 p.m. EDT, Gustav was centered about 155 miles east of the western tip of Cuba, or very near the Isle of Youth, and moving northwest at 14 mph.

According to reports, wind speeds have increased to 150 mph by 5:00 p.m. EDT.

The hurricane is expected to continue strengthening into an even more dangerous hurricane as it slams west Cuba this afternoon.

According to forecasters, the storm is expected to be as bad as everyone feared, the worse case scenario.

Gustav is moving northwest, away from the Cayman Islands, and hurricane warnings for the island nation have been discontinued.

The forecast track continues to indicate that Gustav will make its way into the southeastern Gulf of Mexico tonight and then track northwestward reaching the central Gulf Coast by late Monday.

The outer rainbands of Gustav will begin impacting coastal areas of Louisiana, Mississippi, Alabama and the Florida Panhandle as early as late Sunday with scattered downpours and thunderstorms.

Gustav will slow down as it moves inland, and will likely unleash excessive rainfall and devastating flooding.

The heavy rain and winds from Gustav will test levees breached during Hurricane Katrina. But all that depends on the exact track of the storm.