Editorial: Responding to emergency

09/19/2005
By the premier standard of what government should do in crises of oil and gas supply, the US government has performed fairly well since Hurricane Katrina devastated the Gulf Coast Aug. 29. It has room for improvement, however.The standard of crisis performance is simple. The government should help the market work. That’s all it should do.Supply emergencyThe US government mostly helped the market work after Katrina forced the shut-in of 95% of the oil production in the Gulf of Mexico and 88% of the gas production, cut electrical power to two arterial product pipelines and one major crude line, and idled or reduced operation of 14 refineries, four of which remain shut down with little...
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