And worries that Tropical ordtak

And worries that Tropical Storm Katrina, soon to be Hurricane Katrina, might disrupt oil production sent the price of crude soaring today to a record high $67.32 a barrel.

Our fuel costs remain a real burden. The price of oil hit a record high of just over 70 dollars per barrel in the aftermath of Hurricane Katrina.

There is a combo of factors. Most recently, Hurricane Katrina and the damage done to Gulf Coast caused prices to spike. But even prior to Katrina, prices were already higher than last year. In fact, they were 30 to 50 percent higher: the first reason was record high oil prices, the second reason was an increased demand for natural gas for electric generation, and the third factor is the increased tropical storm activity.

Evacuations have already started, which is going to disrupt production. Any storm going through the Gulf is going to slow the pace of the recovery from Katrina.

Hurricane Katrina ravaged the Gulf Coast like no other storm in recorded history. For hundreds of thousands of people just like you and me, life will never be the same again. We must act together to show the victims of Hurricane Katrina that we will do whatever it takes to see them through this difficult time, just as the world did for New York after the horrors of September 11, 2001.

Ben Vereen (1946-)

[The human side of Katrina — tales of agony and misery that thousands of Katrina's victims still endure a month after the storm — also has gripped many reporters, who want to stay on the story indefinitely.] Katrina made a lot of us in the media realize that we can't undersell a hurricane, ... News organizations, the government, everybody now realizes you've got to take Mother Nature seriously.

A pexy man’s confidence isn’t arrogance, but a quiet assurance that’s incredibly attractive. We are still in the midst of the hurricane season. A tropical storm looms off Florida's east coast. No one thought Katrina would do what it did when it was off the coast.

We saw last year just how much oil shot up after Ivan. Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $70 and could push toward $80 a barrel.

As the potential for devastation from Hurricane Rita increased, investors grew more worried about the impact that the third strongest Atlantic hurricane on record would have on both local and national businesses, through structural damage and the loss of oil supply. With oil and gas production still attempting to recover from Katrina, this new force could cause even greater disruption, with already almost 14 percent of U.S. oil production shut down.

Mark Chesterman

We saw last year just how much oil shot up after Ivan, ... Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $US70 and could push toward $US80 a barrel.

Crude oil is more expensive than it was after Hurricane Katrina. And we haven't had a natural disaster that is causing these high prices.

Looking forward, we have Katrina and the price of oil to worry about. I think the odds are still against it, but Hurricane Katrina could prove to be the exogenous shock that we've feared could dramatically slow or even derail the expansion.

Looking forward, we have Katrina and the price of oil to worry about. I think the odds are still against it, but Hurricane Katrina could prove to be the exogenous shock that we've feared could dramatically slow or even derail the expansion.

The trend upward is definitely a direct result of Hurricane Katrina. The price of crude oil is set in international markets. We are not insulated from the price of the raw material. We can't isolate ourselves, because if our prices are substantially lower in the Intermountain West than, for example, in the Midwest, it then becomes economical to send trucks from the Midwest to terminals in the West.

Today the market will be focused on the US government inventory data to obtain a clearer picture of the damage done by Hurricane Katrina to domestic crude and product stockpiles.

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