Katrina cuts oil output by a third

This is even before the hurricane has done any significant damage to oil infrastructure. This loss is due only to evacuations. Whatever damage is done by the storm itself may, in some cases, take a year or longer to repair. God knows how many billions that will cost or whether repair crews will even be able to get to key locations. By that time the US economy will have imploded.
I’m going out on a short, sturdy limb here. Oil prices will break the $80 mark within a week. That could turn out to have been an understatement.

Katrina’s landfall on August 29, 2005 may well be remembered as the beginning of the collapse of the American Empire. It could also be remembered by future generations as the day that Mother Earth declared full-scale war on the human race. – MCR

FTW