Katrina seems to be weakening slightly, so that it may come ashore as a strong Category 4, rather than a weak 5, and is, according to MSNBC, is moving slightly east. (Here's a link to the NOAA discussion where they say the same thing.) There is apparently change going on in the eye of the storm that makes it more difficult to be accurate.  Nevertheless predictions are that power will start to go out in a couple more hours along the coast and that the damage will start to build from there. At least 50% of NO is anticipated to be flooded.  While everyone is focusing on the time that the storm "comes ashore" remember that this is only half-way through the storm activity, and while the power then starts to fade, the large size of this storm (200 mile diameter) and 10 mph speed means that it might not be well into tomorrow evening before the storm has fully passed.

The Kuwaiti Energy Minister is quoted by Forbes as saying

Oil resources and supplies are plentiful and OPEC has been producing more than its agreed output by 1.5 mln barrels per day (bpd) in the three quarters of 2005,' Sheikh Ahmed said.

It is a pity that this must have been used, (since it is not lying around waiting for a buyer or anything...*sarcasm*), as there is little doubt that over the next three months we could likely use that input to offset the temporary loss we are about to see. (Thanks for the tip).

Update [2005-8-28 20:52:49 by Prof. Goose]:Note the new Red Cross box in the upper right hand corner. We will all have to do without the pithy quotes for the time being. That cause is much more important.

Technorati Tags: peak oil, oil, Katrina, Port Fourchon, gas prices, hurricane, weather.