The Economic Consequences of Katrina

[Sava]

Originally posted by Ogie Oglethorpe
Speaking of drinks its a bit ironic that NO is laid low by its offical drink, "The Hurricane".

ehhhh

no

the southeast is known for hurricanes

hence the popularity of naming stuff after them

Carolina Hurricanes

Miami Hurricanes

the drink

etc...

so it's not ironic when the southeast gets pwned by one

[Ogie Oglethorpe]

Naah Pat Obriens and NO in general are known specifically for their killer Hurricanes. (no punintended)

[Krill]

They ought to rename it New New Orleans

[chequita guevara]

Originally posted by Ogie Oglethorpe
Naah Pat Obriens and NO in general are known specifically for their killer Hurricanes. (no punintended)

A damn fine drink. You can get it in a cup to go and wander around the French Quarter and get totally sloshed.

[Jack_www]

Originally posted by chegitz guevara


The area along the lower Mississippi is known as Cancer Alley, because of all the petrolium distilleries and chemical plants. All that crap is likely washing out into the ocean right now. In addition, chemicals from farms are running out into the coean because of the extensive rainfall and flooding. Plus all the wrecked boats leaking fuel, plus all the household chemicals, and god knows what else.

you also forgot the raw sewage. The only thing I can think they could do is try to treat the water as it is pumped out if that is at all possible. Other wise it is going straight into the ocean.

[Jack_www]

I think that this strom will slow down the US economy and we will feel the effects for years to come. This is what I think will happen. Due to the fuel shortages that will rise fuel prices and of course lead to higher prices for all most all kinds of goods and services. That will of course slow the US economy.

But as I think about it, a slow down to the economy will reduce demand for energy in the US, which in turn may help to ease the shortages. Also the billions of dollars that will be spent rebuilding the area will help the economy somewhat.

[germanos]

Originally posted by Jack_www
Also the billions of dollars that will be spent rebuilding the area will help the economy somewhat.

This is why I have never understand Economics:
a desaster like this could in fact be a boost to the economy.

Does this mean that wealth and well-being has nothing to do with economics? In fact that wealth and well-being are opposites of a healthy economy?

[chequita guevara]

Technically, it will be a boost, because all that money spent rebuiling will be considered part of the GDP.

[DanS]

Here's an article about the pipelines that were causing all of the disruption in Atlanta...

Improved forecast for U.S. pipelines
Colonial, Plantation resume partial service and improve the forecast for the eastern seaboard.
September 1, 2005: 2:59 PM EDT

NEW YORK (CNN/Money) - Two major suppliers of gasoline to the eastern seaboard of the United States have resumed partial service Thursday.

Colonial Pipeline announced that it is now operating at about 38 percent capacity after electrical power outages due to Hurricane Katrina shut down key portions of the pipeline in Louisiana on Monday.

The news came as gasoline prices surged above $3 a gallon in some parts of the country due to outages and bottlenecks in the wake of Hurricane Katrina. (For more on that story, click here).

Colonial said that with the return of additional electrical power in Mississippi, expected later today, it will be able to operate at about 61 percent of normal capacity by the end of the day. Gasoline, jet fuel and other products are being transported and delivered now, it said.

With additional restoration of electrical service, Colonial said it expects it will be able to achieve approximately 74 percent of normal operating capacity by Sunday, and 75 percent to 86 percent by next week.

"As always, our first concerns are for protection of people and our environment. With this in mind, we continue to work closely with the electric utilities as they re-establish service in Mississippi," Colonial CEO David Lemmon said in a statement.

The Alpharetta, Ga.-based company operates 5,500 miles of pipeline and normally pumps a total of more than 100 million gallons of fuel products each day from refineries and storage facilities in Texas and Louisiana to Georgia, the Carolinas and on to New York.

Plantation Pipeline company also reported that it resumed limited service on its refined products pipeline serving the eastern seaboard.

Plantation said it restored nearly 25 percent of normal operating capacity, or about 150,000 barrels of capacity per day.

Plantation operates 3,100 miles of pipelines that transport gasoline, diesel and jet fuel to major metropolitan areas in the southeast, including Birmingham, Ala., Atlanta, Charlotte, N.C. and the D.C. area.

For more on when the eastern seaboard pipeline will come back on line, click here.

[Whoha]

Originally posted by chegitz guevara
Jesus.

The Gulf is cleaned out by the Gulf Stream, which means that the waters off Florida are going to be polluted as well.

so... England and Europe get all our crap!

[germanos]

Originally posted by chegitz guevara
Technically, it will be a boost, because all that money spent rebuiling will be considered part of the GDP.

smartass

[Ecthy]

Az: phobia?

[Winston]

I always thought "England" was in Europe.

[Whoha]

its not going to be abandoned. those refineries and ports need to be brought back up pronto.

[Whoha]

Originally posted by Winston
I always thought "England" was in Europe.

England gets hit hardest.