Hey Louisiana! Hey Mississippi!

Economic consequences:


http://www.marketwatch.com/news/sto...4B4-4137-8B5D-9638FFE3A5D8}&siteid=mktw&dist=

 

Indeed, the immediate increased gasoline prices - while painful - will be only the tip of the iceberg with respect to the total economic consequences of Katrina.

Rob

 

AEP, a local energy provider dispatched 1000 Electrical Engineers and Contractors to New Orleans this morning. They are being sent to help restore power in the effected areas.


Trekk

 

Latest from CNN--Mississippi's damage worse than Camille. "Every one" of the beachside casinos destroyed. 10-20 city blocks totally wiped away in places:

HERE

 

I just saw on CNBC that they will be evacuating people from the Superdome to the Astrodome. apparently, the conditions of the roof of the superdome is getting worse. the fllod water are getting higher, no air conditioning, the toilets are overflowing......

The biggest problem is moving all these people.....I am surprised more people are not paying attention to this catasprophe. The people in the USA will feel it soon however. I heard they are already experiencing gasoling shortages in the midwest.



Starrob

 

I live in Ohio, doesnt get anymore midwest then that, and there are no gas shortages anywhere around me. That is a crock of poo....


Trekk

 

I think people on CNBC said it was happening in Illinois. As for Ohio,,,,,it maybe too soon to say. Let's see what happens after they find out the condition of the pipelines. If many pipelines are damaged there will probably be shortages all over.

They just did a story on CNBC in which one town raised gasoline prices 50 cents overnight from $2.59 to $3.09.

Chicago....spot shortages....in certain Gas stations....story on CNBC now. Detroit is also having spot shortages.

Yield curve is starting to invert.....FED might have to stop raising interest rates....



Starrob

 

Gas prices here havn't even gone up yet, well at least since I arrived at work this morning. Today is the day though, our gas prices traditionally go up on Weds.


Trekk

 

Maybe not yet.....but watch and see.....I am watching on the CNBC. When it happens, it happens fast. One person emailed CNBC and said they went to get gas, they filled up then went to go do a errand and when they came back a hour later the price had went up 20 cents.

I think one major oil company said that the possibility is high that there will be localized supply disruptions. If you are lucky you won't feel it but if you happen to be in a area where this happens you might experience 70's style gasoline lines.

CNBC said even before Katrina that gasoline supplies are at a all time low according to the EIA.
You can keep up with what the EIA says at:

http://www.eia.doe.gov/



Starrob

 

Unleaded Gasoline Futures up 17% at the time I write this.


Starrob

 

From the Drudge Report regarding situation in Atlanta -
http://drudgereport.com/flash2.htm

GAS SCARE HITS ATLANTA
Tue Aug 2005 30 22:23:23 ET

"Metro Atlanta drivers are facing the possibility of paying considerably more than $3 a gallon for gas by Labor Day -- if they can get it at all, The Atlanta Journal-Constitution is reporting Wednesday.

"The two pipelines that bring gasoline and jet fuel to the region are down -- powerless to pump as Hurricane Katrina wreaked havoc on electrical infrastructure.

"The metro Atlanta region generally has about a 10-day supply of gasoline in inventory, said BP spokesman Michael Kumpf. The pipelines have been down for two days.

"Alpharetta, Ga.-based Colonial Pipeline Co., cut off from its suppliers on the Gulf Coast, is now pumping gas from huge storage tanks, many in Powder Springs, Ga. Whether electric power can be restored to the pipeline pumps before supplies run out is "the great uncertainty ... that hangs over all of us," said Daniel Moenter, a spokesman for Marathon Ashland Petroleum, a major supplier of metro Atlanta's fuel."


Also, the area hit by Katrina is crucial to the U.S. energy infrastructure -- offshore oil and gas production, import terminals, pipeline networks and numerous refining operations in the southern states of Louisiana and Mississippi. From what I have read, It took almost a year to get back up to full production after Hurricane Ivan.

Some early good news about preliminary damage assessments by major. link -
http://www.chron.com/cs/CDA/printstory.mpl/business/3330589

Rob

 

Oh ok, yeah we dont consider Georgia Midwest, they are them Southern folk

Trekk!

 

It is hard to know whether that is good news or not. They still have yet to inspect the piplelines leading from the oil rigs to shore facilities.

Also, it might take some time to get the support structure (mostly operating out of Fourchon) back up again. The support structure in Venice is wiped out. The support structure in Morgan City is probably damaged. Intracoastal City is probably not functioning well. The nearest onshore support structure that probably did not sustain much damage is way over by Texas in Cameron, Louisiana; Rockport, TX; Sabine Pass, TX; Galveston, TX and way down to Corpus Christi, TX but all of these locations are much smaller and much further away than Fourchon.

The biggest hindrance is getting electrical power in places like Fourchon and Morgan City. Next roadways will have to be cleared to bring supplies to the port so they can be transferred to supply boats. Also it is higly likely that almost all the shipyards in the area are damaged making repair operation for rigs very difficult as the shipyards must be repaired. Take a look at what happened to Houma (near New Orleans). There are many shipyards there and they are all probably non-functional.

The damage assement is going to take weeks if not months. This is something that will play out over the next few weeks.

I got my job assigment for my ship already but if I was not already going to a ship in a week or so, I probably go get a job in that area. I think I could easily get a job with the Army Corp of Engineers. There is likely to be a lot of dredge work there for quite some time.


Starrob

 

Starrob - Thanks for the great post. The Houston Chronicle article actually was alot of fluff & I had second thoughts about citing it. The immediate problems of supply are enormous and those relating to distribution throughout the nation are only beginning to be appreciated. A couple of quotes which reinforce what you said -

" Shell said its Capline crude-oil pipeline connected to Gulf of Mexico offshore production was shut because its pumping stations have no power.
The pipeline, which transports up to 1.2 million barrels a day of crude oil from the Gulf, runs more than 650 miles (1,040 kilometers) from St. James, Louisiana, to Patoka, Illinois." [Midwest].

Pipelines

"Four pipelines carrying refined oil products between New Orleans and Baton Rouge, Louisiana are also shutdown, Shell said in a statement on its Web site. The system is not operating because of power failures and a lack of supply from refineries closed by the hurricane, it said."

"Colonial Pipeline Co., which runs the world's biggest network of petroleum-product pipelines, said today two lines shut The pair of lines carry gasoline and distillate fuels and run from Houston to Greensboro, North Carolina, spokesman Steve Baker said in a telephone interview yesterday. "


The human losses and tragedies are every bit as great and the effects on each individual are beyond description. Due to its proximity and size of resources, Houston will likely play a major role - such as using the Astrodome. The aid that its citizens - both individual and corporate - will provide are great and will be immediate.

 

"The Louisiana SPCA said anyone who abandons their pets could be charged with cruelty to animals."


Hmmm...bet they are changing that statement right about now.....


Trekk

 

Here in Toronto Canada prices jumped from 98 cents a litre yesterday to $1.17 this morning.

That's well over $4.00 a gallon. The price has settled back this evening though to just over a dollar a litre....

BTW, has anyone heard what's going on at Louisana's penitentuary(s)?

I don't know where they are located so i'm wondering about conditions there....


snowbound

 

UpDate Here in northern Alabama. Gas prices rose 20 cents over night from $2.53 a Gal to 2.73 a Gal. Along with this can expect higher costs for other items as well.

Wood of all types will be in short supply here which will affect the new housing market.

So the effects of the Storm will be felt across the country in time...

Grand Dad

 

So, in other words, the winds may have died down, but the Hurricane is still moving through the US??

Sounds so awful! Came from the mountains, with NO news to find out such devastation....things might be getting tougher all over...

Sending positive thoughts to all the people who don't know what lies in their future and are probably sick with worry over missing children, friends, relatives and pets, they will need lots of those thoughts. Money can only solve so much..

Marja

Good reporting, guys!

 

Good for Houston to offer the Astrodome as a safe haven for all the people that have been housed in insufferable conditions in the Superdome. It will surely feel like a 5 star hotel compared to where they were....

The mayor of Houston also said every available facility that can house more than 500 persons will also be used for the refugees along with hostels, churches, hotels, etc.

Amazingly 10 million dollars has already been raised for relief by the good people of Houston, very impressive.


snowbound

 

texans may be long winded but they have Big Hearts and always extend a helping hand.

 

While our damage is somewhat major 300 miles north of the coast....it ain't nothing compared to what those coastal folks and even most of Mississippi are experiencing. There are literally 1000's now calling our are Home for an extended period of time. All of our accomadations are jammed. The Mayor has discussed offering our new FedEx Forum as a safe haven.

I am still in shock personally with every piece of footage I see....the Good, Bad and Ugly. In all my years I have seen noting like this

 

Yes, it's really terrific to hear all the positive stories, we can all imagine the worst, but it's so uplifting to hear the good stories about all the truly good people there are...

THANKS FOR POSTING THOSE TOO!!

Marja

 

I know I for one will never be labeled as being succinct. In this instance, the losses I see so close and in ares I have visited often are overwhelming.

As far as the rest, we do try. See this as well -- http://www.chron.com/cs/CDA/ssistory.mpl/metropolitan/3333708
"Houston-area undergraduates enrolled at Tulane University will have the opportunity to take fall semester classes at Rice University on a space-available basis.
Rice will automatically accept into the emergency program any Houston-area undergraduate that Tulane had enrolled."

BTW - That should be a capital "T"....

Rob