What exactly happens in an economic recession, and how much has Katrina increased the likelihood of one developing?
Category Archives: Katrina
The calm after the storm
Time to assess the storm damage. From an economic point of view, it looks costly, but manageable.
Lockyer to the rescue
I’m starting to think that every day some politician is going to come up with a new idea for how to make the current gas situation worse. California’s Attorney General provides today’s illustration.
Katrina aftermath: good news with the bad
Some sanity was restored to gasoline markets today, in which patches of good news allowed a more level-headed assessment of the size of the logistical challenges ahead. Both hope and despair can be found on the human dimension of the problem as well.
Coping with the gasoline shortfall
Today’s announcements by the Department of Energy on the use of the Strategic Petroleum Reserve and by the Environmental Protection Agency on fuel standards are steps in the right direction. But we should be clear about the magnitude of the challenges ahead.
Katrina: Day 2
A sobering day today, as we learned that New Orleans and much of the coast had not been spared after all. The waters swept away what many generations had built, and the task of trying to put it back together seems increasingly daunting.
Others are in a better position than I to communicate progress and needs of the relief effort. For those interested in what the economic implications of all this might prove to be, I offer these thoughts.
Impact of Katrina
Hurricane Katrina could have a much bigger effect on the price of gasoline and natural gas than on the price of crude oil. Here’s why.