Katrina impacts substantial, API officials predict

Emphasizing that it is too soon to be specific, officials from the American Petroleum Institute predicted Aug. 31 that oil and gas impacts in Hurricane Katrina’s wake will be substantial.“While it is still too early to know the full effects on production and refinery facilities in and along the Gulf of Mexico, it is becoming increasingly evident that the impact of this devastating story on oil and natural gas operations will be significant and protracted,” API Pres. Red Cavaney said.Comparisons with Hurricane Ivan last year are difficult, he continued, because the September 2004 storm’s total damages are still being calculated. “But my guess is that recovery ...

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