Word: gulf
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...Foolish reactions are inevitable in moments of disaster. But in the primal enormity of the Gulf Coast tragedy, these two risible and annoying responses almost seemed to have a purpose. They were a reminder of our vestigial selves, of how humankind has rationalized catastrophe through most of its history. The whims of nature were either God's will or our fault. Happily, the two institutions that arose from these explanations-religion and government-proved to be civilizing impulses. Religion provided the moral basis for human interaction; government provided the forum for common action against external threats...
...Producers are moving to restart production on the western and eastern edges of Katrina's strike zone, but assessment of the central zone where up to a third of the Gulf's rigs lie will not begin until midweek...
...Hurricane Katrina hurled toward the Gulf of Mexico bad memories flashed through Tony Lentini's mind. Last Sept. 7th, Hurricane Ivan hammered a similar area, and Lentini, a vice president of Apache Corporation, an independent oil and gas exploration company in Houston, says that it's taken a year to get some of Apache's facilities back online. In the sixty days after Ivan struck, the Gulf lost 29 million barrels of production. "What you do as the storm approaches is you have to balance your people's safety with the country's dependence on the Gulf," says Lentini...
...becomes even more difficult when a storm like Katrina, a Category 4 hurricane, rolls into town packing winds up to 140 mph. Ivan, was a smaller Category 3 storm with lower winds and waves. Damage estimates from Katrina are as high as $26 billion, and oil production in the Gulf will certainly be down, at least in the short term. Yesterday, oil futures spiked to $70.80 before easing to $67.90 by the end of the day, and all of this comes at a time when consumers are already paying high prices at the pump...
...United States consumes 20 million barrels of oil a day, and produces 7.7 million barrels a day-a quarter of our oil and gas production comes from the Gulf. Katrina shut down 92 percent of the oil and 83 percent of the natural gas production, according to the federal officials. Onshore wells and pipelines also were affected and seven Louisiana refineries producing 8.5% of the US total production grinded to a halt...