<News Deposit/Open Thread The Oil Drum Shepherd Bliss: Hurricane Katrina, New Orleans and Peak Oil>

29 comments on Yergin: The Katrina Crisis, a hurricane produces an integrated energy disaster

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JLA on September 3, 2005 - 2:26pm Permalink | Subthread | Parent | Comments top
Lou,
My sense is that the prices we are seeing now (>$3) are ample to produce a good old-fashioned energy shock.  Even without the drag on consumer spending (which is substantial), firms from many sectors will be reeling at these prices--especially given how quickly we have gotten here, leaving little time for adjustment.  

That, combined with the heating fuel/natural gas crisis we are sleepwalking into, qualifies as a crisis in my book.  

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JLA on September 3, 2005 - 2:47pm Permalink | Subthread | Parent | Comments top
A bit optimistic about the long term, but a good article from the Post:

"Storm's Economic Shock, Job Losses Likely to Rival Worst
Hurricane Katrina, by forcing an exodus of workers and families from New Orleans and surrounding areas, appears likely to rank alongside Sept. 11, 2001, and the Arab oil embargo of 1973 as one of the nation's most serious and sudden economic shocks -- particularly in terms of job losses -- in recent memory."

http://www.washingtonpost.com/wp-dyn/content/article/2005/09/02/AR2005090202468.html

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29 comments on Yergin: The Katrina Crisis, a hurricane produces an integrated energy disaster

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