Don't Let Me Stop You

What the heck, you'll do what you want anyway.

Energy and Hurricane Katrina

Posted by Dan Draney on September 4, 2005

If you are wondering why gas prices spiked up from their already high levels, it’s because New Orleans plays a huge role in the energy supply chain. Daniel Yergin in the Wall Street Journal says it’s an “integrated energy disaster.” His article has just been reprinted on the free OpinionJournal site. You’ll want to read the entire thing, but here’s a teaser:

“What makes it an integrated crisis is that the entire energy supply system in the region has been disabled, and that the parts all depend upon each other for recovery. If the next weeks reveal that the losses are as large as some fear, this would constitute one of the biggest energy shocks since the 1970s, perhaps even the biggest. Unlike the crises of the ’70s or the Persian Gulf crisis of 1990-91, this does not involve just crude oil: It includes natural gas, refineries and electricity.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: