Gustav: Look For Gas Price Increase

Reuters reports that US refineries in the Gulf have "shut nearly all offshore oil production and were racing to bring down flood-prone Louisiana refineries on Sunday ahead of Hurricane Gustav's landfall." Bloomberg notes that Katrina affected almost 19% of US refining capacity.

In 2008, US refineries were operating at only 87.3 percent the week before Gustav; in 2005, they were operating at 97.1 percent the week before Katrina.

See Katrina and the Risks of Global Warming; Gas at $6: State of Emergency Declared in Georgia (2005)