click for much larger graphic

Source: Christian Science Monitor

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The prospect of damage to oil installations could send the price of gasoline to $3 a gallon.

NEW YORK – Energy markets, already strained by robust demand and tight refining capacity in the United States, are now being roiled by a new force: the Katrina factor.

One of the largest hurricanes in US history is already raising energy costs. By midday Tuesday, the wholesale price of gasoline in the futures market was $2.37 a gallon, which would indicate a retail price above $3. A barrel of oil had soared to more than $70, almost $4 more than two days ago. Home heating oil was up about 20 cents a gallon.

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Source: NYT 

Sources:
The Katrina factor and energy prices    
Ron Scherer
The Christian Science Monitor, August 31, 2005 edition
http://www.csmonitor.com/2005/0831/p01s01-usec.html

HURRICANE KATRINA Graphics Package
New York Times, August 31, 2005
http://www.nytimes.com/packages/html/national/2005_HURRICANEKATRINA_GRAPHIC/index.html

Posted at 11:10 PM in Science | Permalink

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