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• Federation of American Scientists

Summary

Hurricane Katrina made landfall on August 29, 2005, leaving behind considerable devastation. In anticipation of the hurricane's landfall, workers were evacuated from oil rigs in the Gulf region. Some onshore refineries were shut down in advance of the storm; others are also down now because of the widespread interruption of electric power. Assessment of damage to oil and gas production rigs, as well as refineries, has begun. It is uncertain when electricity will be restored. Until more is known, the outlook for oil and gas is unclear. In the meantime, spot and futures prices for gasoline and middle distillates are rising sharply. This report will be updated.

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