Update on Hurricane Katrina’s Damage to the Gulf Oil Patch

[A Scary and Must Read, and I don’t often say that]

Repercussions of ominous hurricane impact on the Gulf oil infrastructure. Remedies discussed, including emergency spending on alternative energy technologies. Ramifications spread affecting employment in other industries, agricultural production, etc..

..The translation for anyone figuring out the details here is that the USA is going to have about a 15% or so deficit in its distillates energy supply for a year or two. This is about 2 times the 1973 Embargo damage. It is most serious. In the southeastern US we are