The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bentway who wrote (143815)	8/31/2008 11:45:03 AM
From: patron_anejo_por_favor	Read Replies (2) of 306849

Excellent discussion of Gustavo on the hurricane thread: Subject 55136 Needless to say, a lot of rebuilt housing in New Orleans is in jeopardy. As well as a huge amount of offshore oil and natural gas production, dozens of refineries (I did a quick inventory last night....at least 2 million bbl/day of refining capacity between the western edge of New Orleans and Baton Rouge). And a critical facility, the LOOP (Louisiana Offshore Oil Port) at Port Fourchon, the only facility in the gulf capable of offloading VLCC's. It takes in 1.2 million bbl/day of crude imports (which can't be easily transshiped otherwise). It's directly in the current path of the storm. That's the good news....the above is with the current track. If the storm moves 50 miles east it will completely destroy New Orleans. If it moves 50 miles west, it will maximally impact offshore oil rigs and platforms, and possibly take out Henry Hub, the major natural gas hub in the U.S. So unless the storm weakens, we're all gonna be eating $hit sandwiches for Labor Day barbecue.

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