Hurricane Katrina caused oil prices Spike formally Battered Gulf Coast
Wolf Blitzer, CNN Moderator: “But later in life, were on the line,” Katrina “has also vulnerable drilling platforms offshore, at a time when gas prices are already sky high.
Let’s check-in with CNN’s Ali Velshi. It is for us the story of Winnie, Texas. It is east of Houston. Ali, to explain our viewers why this hurricane is so impact on energy prices?
ALI VELSHI, CNN correspondent: Well, you know, wolf, while countries such cases in category 4, it was Category 5, whereas in the Gulf of Mexico and it was for spiders platforms and drilling platforms, including the fourth - a third of oil production in the USA. And also Louisiana, the port, empty the greatest super-tankers bring oil imports to the USA.
In the pending case of agriculture, oil to act until an all-time high, $ 70 a barrel, above $ 70 a barrel before the trading began in New York .
It still has a little. The oil from $ 67 and change what you know, well below this morning. But this part is because, during the day, when it was reported that damage to the infrastructure of oil, swirling rumor, and there were a number of proposals from Washington, that States United could tap the Strategic Petroleum Reserve, That is why I am - I am here, Winnie, Texas, one of four places where the USA has over 700 million barrels oil should be used in an emergency.
Just to give you a sense of doing so. It is 60 days worth of oil, for example, some estimates. The USA believes that this is an emergency. Now, there is not yet on the announcement, the wolf, but there is some discussion tomorrow, if we find that the damage was extensive at the Offshore Rigs and platforms and deliveries and pipelines and refineries, the government can do that is to maintain all not to panic.
Blitzer: And there are fears, pipelines, the underwater world, it could have been, by that hurricane, and I know how long it might be replacing, repairing pipelines. Is this true?
VELSHI: Absolutely. It is, indeed, a few days easy to assess. What we do know some of Rigs and platforms are equipped with a safe devices, owners telling them that their state. Now we have learned, Shell, at least two rigs went adrift in the Gulf of Mexico. One of them is in possession of society, including the rig, we were on Friday. You will note, wolf, rigging, we drove to a demonstration of what it could do an evacuation. It turned out that a real evacuation. The company, Noble Drilling, it is the owner of one of these Rigs and we try to find out what the situation is there.
But, yes, there is some fear that this is real damage to oil infrastructure. It notes the highest market today. Well, because it was likely that the government would release oil from their strategic oil reserves, distributors observed, okay, this is not too seriously. The oil is not Spike.
They think in gasoline, though. If a certain impact on refineries - as you know, we have a grave a few months in refineries, Wolf - you feel, dass I am toward the edge of the East region, who have been affected for an idea , As a lot of damage.
Blitzer: All right. Ali, we look with you. Ali Velshi report for us.
We are also always new video, which comes from CNN at the moment. Would show that our viewers. Take a look at them. You can see these cars crushed by bricks. Clearly the stones from the structures, buildings pounded by Hurricane Katrina. It is our partner site WFOR in New Orleans. She saw the damage on these cars. New video in next We will also continue to explore with all our associates and all our journalists.
Happening now Hurricane Katrina, it is torn, the Gulf Coast and over barreling inside the country. You’re in a situation where live images and horror stories of the storm of food are at the same time.
Shortly after 3:00 pm on expanding area of disaster. Central Time in New Orleans. We’ll begin to get a better idea, as harmful and this hurricane was scary when she screamed the first time ashore. Next the east along the coast, parts of Alabama and Mississippi after all a foot of water. Thousands are in shelters and in danger if they venture outside work.
And now, “Katrina” pushed deeper into the Mississippi. We will examine, living with the mayor of Jackson to find out how there are people of this disintegration violent storm.
I’m Wolf Blitzer and you’re in the situation ROOM.
Katrina loses part of its new higher than Hurricane churns on the ground. But there is always more powerful, dangerous storm with winds near 95 miles an hour right now. New Orleans is the punishment of the rains and gusty winds, blowing a section of roof of the Superdome.
Emergency workers began in the heart of the city. There was no direct relationship to the subject of deaths or injuries, but fears Governor of Mississippi, some may be captured or killed hit coastal areas. Gulfport is about 12 metres above the water. This time, Katrina is plowing a more central and northern Mississippi. Tennessee, Alabama, Georgia north-west of Ohio and, finally, it is expected that feel the effects of this storm.
In the enormity of this disaster, there are hundreds of certain stories of fear and courage. Watch this video of New Orleans. Look at this. A man pressed on the Rescue of a car drifting in the water.
Look at this. CNN’s Jeanne Meserve is in the Big Easy, as they were called, relations with the great. But look at them, Jeanne, which we expect to see this man. He saw a car go in this area, which was once a road. Clearly, floods are like a river. But as we shall see what happens. This man, a very brave man and focus on the car and it is once again trying to help, that the various insider dealing fate as the automobile. Look at this. He took his own life in his hands, because these waters emerge clearly. These are simple, easy to try to save the life of Guy’s
Related Articles
Auto insurance ad Tavarez brings a sense of history of price must still be out Finance
Hello, I'm Mike Price, and where the devil do you say that I have? Well, because he saw how the administration can be, maybe Michael Jordan go to work for the former NBA player union. The right of jurisdiction of the common wisdom, the Giants Robb Nen not to be missed if
A New Orleans man fights for rebuilding its Small Business
Mandeville, La - After Hurricane Katrina devastated New Orleans and its electrical lighting, Scott Armstrong is organised day and night to feel the effort, lack of staff, talk with insurers and the relocation of companies, major operations on a smaller branch in this city, the northern edge of Lake Pontchartrain,
Welfare, the golden age for silver prices
The recession, the collapse of Enron and erratic share prices, many people are convinced that delays they can take their retirement and work a few years to maintain their nest eggs. You can not really responsible. After all, a quantity of air went out of stock-based 401 (k) plans, given that
Farmers reduce auto insurance rates in Alabama
Farmers Insurance announced Wednesday that it was in full possession of a collision and reduces rates of more than 200 automobiles brands and models in Alabama. The reduced rate of 5 per cent and 13 per cent, occurred in March. The brands and 200 models of cars are affected in all categories.
Tycoon, politicians took the Atlanta automobile insurance company
Guy Millner, a Republican whose political ambition collapsed in the polls three times in Georgia, runs another, what it does best: business. The founder of the Norrell staffing suppliers Deal completed in its April 5 years of automobile insurance. Insurance America is a small company during the past year revenues of
Alabama residents receive low-cost automobile insurance.
What is the best way to store some of automobile insurance? Let your fingers to play up by the Yellow Pages. In Alabama's insurance liability legally about three months, council officials give assurances residents, buy insurance for the first time. Aaron vold, a spokesman for Progressive Insurance, said a recent survey has
Standard & Poor's objective Bank initiates Report Coverage in Donegal Group Inc
Standard & Poor's announced today that it has started coverage of facts Bank report in Donegal Group Inc. Donegal Group Inc. (NNM: DGICA) is one of damage and accidents holding company whose insurance subsidiaries offer personal and commercial lines of insurance for businesses and individuals in 18 Mid-Atlantic, Midwest and South
Your insurance money in the workplace
The tab for Charley, Frances, Ivan and Jeanne in 2004: $ 26 billion. The bill for Katrina in 2005: $ 40 billion. Wilma and Rita? $ 15 billion. The assurance of the economy has made most of the bills, but now American consumers to pay higher premiums and limited access
The elections of 1997: The trend, with major themes absent, the little things count
Forget the post-mortems on ideological movement, the Republican candidate or revivals took the most money. The legacy of Off-Off-year elections on Tuesday, maybe a little everywhere: Think small. The questions are, finally, this week continued in the Governor elections - automobile insurance rates in New Jersey and the state tax on
Vesta explains dividend in cash, is negative for Fitch
Alabama-based Vesta Insurance Group, a holding company for various insurance and financial services companies, announced its Board of Directors declared a quarterly cash dividend of $ 0,025 per share for the period ending June 30, 2002 . The dividend is payable on August 30 shareholders of the note of 16 August. Meanwhile,