Tuesday, September 20, 2005

Rita, luck and money

"More than a quarter of the US refining industry, processing 4.5m barrels a day of crude oil, stands in the path of hurricane Rita, with three of the country’s five largest refineries there", says Carola Hoyos in the Financial Times (Opec scrambles in face of hurricane threat)

The area is less prone to flooding than New Orleans, she adds, where nearly 1m barrels a day of refining capacity remains shut because of the damage following hurricane Katrina in late August.

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