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Consumers can expect to pay more for basics such as coffee, bananas and paint (made at idled chemical-processing plants in the Gulf). New Orleans is the second largest coffee port in the country, after New York, and stores 27% of the nation's beans. "Right now those supplies are off the table," says Joe De Rupo of the National Coffee Association. Imports are being rerouted to Houston, Miami and Jacksonville, but no one knows whether the 211 million lbs. sitting in bags in New Orleans is salvageable or whether the roasting equipment, possibly submerged in contaminated water...
...transport the 55,000 bu. of corn that would fit on a barge, says David Feider, a spokesman for the grain exporter Cargill. "We're not diverting cargo," he says. The prospect of corn being dumped on the domestic market has already depressed spot prices. But don't expect a break in the price of cornflakes. The corn in a 1-lb. box costs cereal makers just 3˘, a tiny part of the total cost, according to Robert Wiser, an agricultural economist at Iowa State University. Higher energy costs more than offset any cuts in the price of corn...
...data history, not a single event. Insurance firms developed more sophisticated modeling techniques after Hurricane Andrew. Now they are able to predict with greater accuracy the frequency and potential damage of storms like Katrina and spread their risk across the country accordingly. While residents in hurricane-prone areas can expect rate hikes, "people in Alaska won't be paying for this," says Robert Hartwig, chief economist with the Insurance Information Institute...
...Harvard’s supervisor of waste management, Robert Gogan, says that it’s unrealistic to expect that the University will ever be able to eliminate its mouse population entirely...
...disarmament is for all countries to renounce and destroy the nuclear weapons they have acquired. As long as some have them, others will try to acquire them. Iran is not only surrounded by countries that possess nuclear weapons but is also threatened with attack from the U.S. Should we expect Iran to behave like a sitting duck? Erisa Mugabi Kyotera, Uganda Your report was informative but omitted one facet of the debate. Although Iran is indeed surrounded by nuclear powers, none have ever remotely considered using such weapons because of the possibility of retaliation. If Iran wants to spend...