| Regional/District economic development : District economic overview and State economic conditions | |
Abstract | |
| HURRICANE KATRINA DISRUPTS DISTRICT ECONOMY E Y takes steady stream petroleum keep modern economy running smoothly When the flow disrupted and prices begin soar the wake Hurricane Katrina late August are reminded just how important gasoline diesel fuel and other petroleum products are the economy Although hundreds miles from the Gulf Coast the Fifth District region quickly experienced gasoline shortages and soaring prices because the damage oil production and refining facilities caused the storm When Hurricane Katrina moved through the Gulf Mexico toward landfall Louisiana Monday Aug hundreds oil platforms and rigs the region were evacuated Many Gulf area refineries were shut down well late September four major refineries Louisiana and Mississippi remained closed because damage sustained during the storm Problems transporting petroleum products out the Gulf area made matters even worse The Colonial and Plantation pipelines which carry most the gasoline diesel fuel and jet fuel coming into the Carolinas and Virginia shut down during the storm because loss power pump stations Louisiana and Mississippi They were back operation Thursday Sept but only partial capacity wasn until Sept that capacity both returned normal result consumers and businesses throughout the District were forced cope with spot shortages gasoline for several days Although the flow gasoline into Fifth District states improved during the week after the storm prices continued rise The interruption oil production | |
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