get ready for $4 a gallon gas next week. i'm hoping against hope that the scramble that jacked prices up worse than otherwise a few weeks ago won't be repeated, but people are probably going to stampede all the same.
If this can be taken as official sanction to discuss economic impacts of the storm (about which I am more confident than I am about my met talents in this crowd), allow me to suggest the possibility that some may not be able to buy gas at any price if the forward right quadrant of this storm hits the Houston/Beaumont area. In fact, the entire coast from Corpus Christi to the LA border has numerous refineries producing about 25% of the nation's gasoline. Add to this the refining capacity still not on-line in LA and you have, I'm sure, loss of more than half the refining capacity supplying the eastern 3/4 of the country (CA is largely independent and refines its own gas crude sources in the Pacific littoral including Alaska). If you recall, we had stations that had no gas immediately after Katrina. I expect this to be much worse.
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