[Racehorse]

From another source, an oil industry trader worries the five refineries located in the New Orleans area cannot withstnd Katrina's destructive force. He speculates damage to refineries and tanker transit facilities will deliver a crushing blow the U.S. economy.

[The Great RJ]

While I am not much for conspiracy theories, I don't see any economic reasons for the current run up in oil prices. Prices went up when the Saudi King went room temperature and just even the mention of Middle East instability.

Hurricane Katrina is a real threat to our oil infastructure, but I think this situation is being made far worse by oil speculators. Is George Sorros behind this oil price hike as a means of getting George Bush?

[The Great RJ]

While I am not much for conspiracy theories, I don't see any economic reasons for the current run up in oil prices. Prices went up when the Saudi King went room temperature and just even the mention of Middle East instability.

Hurricane Katrina is a real threat to our oil infastructure, but I think this situation is being made far worse by oil speculators. Is George Sorros behind this oil price hike as a means of getting George Bush?

[Recovering Ex-hippie]

One word:

ANWAR!!!!!!!!!!

[avital2]

shouldn't we be worrying about the people of New Orleans rather than the oil price right now??????????

[RayChuang88]

Oh gawd. It's like the scenario from the FX network TV movie Oil Storm playing out right before our eyes.

[RBroadfoot]

The refinery closures are bad, but the disruption and potential damage of LOOP is far worse. LOOP, the Louisiana Offshore Oil Port, offloads over a million barrels a day of imported crude. It's the only facility in the US that can handle the largest of the supertankers. Pretty soon we'll be hoping for $3/gallon rather than dreading it.

[BILLNHILL MAKE ME ILL]

From another source, an oil industry trader worries the five refineries located in the New Orleans area cannot withstnd Katrina's destructive force. He speculates damage to refineries and tanker transit facilities will deliver a crushing blow the U.S. economy.

The next few years will be very tough economically. We are more vulnerable than maybe we have ever been.

There was just a report by a spokesman for NOAA that said he agreed with the statement that New Orleans, as we know it today, may be gone after this storm.