Rita weakening, moving away from Houston

Quote from vhehn:

no was a special case because it is below sea level. in one way it may be a good thing that the new orleans levee broke again. maybe that will cause a more common sense debate about how smart it is to rebuild a city that is below sea level and in a hurricane path.
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The French in their days were not so dumb. They build the historical French Quarter of New Orleans on the highest lying land.
:cool:
 
Quote from MacroEvent:

MacroEvent


Registered: Jul 2005
Posts: 487


09-24-05 06:15 PM

most recent EIA report from today has 16 additional refineries off-line now. per fox news report on hand in Port Arthur area, several refineries are underwater or surrounded by water. CEO of Apache says they will need several days to just get their damage assessments done and then they will go from there -- this may take a few days to evaluate the situation.

once the winds die down there will be the start of the process to go out and assess all the damage to the off-shore rigs --- this will take several days also.

when the futures for oil open sunday we probably will still not have a clear picture yet of all possible damage.
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as i stated we still do not have a clear picture of all the refineries damage and delays {this does not even include the off-shore platforms} --- and now oil and gas futures are pushing higher again. market gave a good college effort to rally today but there are still too many downside pressures economically.
 
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