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Gustav menaces Gulf Coast

09/08/2008
By NINA RACH
On Aug. 29, just 3 years to the day after Hurricane Katrina came ashore in Louisiana and devastated New Orleans, Tropical Storm Gustav was over open waters of the Caribbean and predicted to intensify into a hurricane and make landfall west of that same city, possibly Labor Day, Sept. 1.Although downgraded from a Category 1 hurricane by its passage over Haiti, Gustav remained the most menacing storm and first major threat to US offshore and Gulf Coast refining since 2005, pushing up energy prices Aug. 26-27 and reversing a 2-month downward trend. Yet the October natural gas contract led a drop in energy prices Aug. 28 in New York as a bigger-than-expected injection of gas into US undergrou...
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