An extreme-risk consulting firm predicted a strong hurricane in the Gulf of Mexico could generate losses of more than $65 billion for the offshore oil and gas industry. EQECAT, a subsidiary of Oakland, Calif.-based ABSG Consulting Inc., said recently a strong Category 5 storm, with a track through the heart of the Gulf of Mexico, could produce such property damage and revenue losses. “Property damage alone could exceed $35 billion and losses due to business interruption and reduction in production capacity could add another $30 billion to the loss,” said Richard Clinton, EQECAT’s president. EQECAT based the findings on running a new offshore energy model it produced.