[BureaucratusMaximus]

5:24 A.M. - UNDATED (AP) -- Hurricane Katrina damaged or displaced an estimated 58 Gulf of Mexico oil platforms and drilling rigs. The American Petroleum Institute says among those, 30 rigs and platforms have been reported lost. Tim Sampson, an A-P-I spokesman says no company breakdown was available.

Good God...not good.

[Trust but Verify]

This sounds like a lot, but there are 1000's, someone posted the number 4000 oil and gas platforms in the south. We have crude oil, we can take it out of the SPR if need be. What we do not have is enough refineries online, and anyone who heats with natural gas is in for a tremendous shock this winter. I'm one of them.

[Peach]

The Governor of NC put out a press release yesterday...it was on FR...that the southeast gets its oil from the Gulf and there will be shortages.

Economic consequences are going to be severe.