What is going on with the USA; what will be the impact on the economy of the USA?
http://in.reuters.com/article/2012/08/2 ... RX20120826Quote:
Isaac could be the biggest test to U.S. energy infrastructure since 2008, when Hurricanes Gustav and Ike disrupted offshore oil output for months as well as damaged onshore natural gas processing plants and pipelines.
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London-based BP Plc, the biggest U.S. Gulf producer, on Sunday evacuated all of its Gulf of Mexico rigs, after earlier shutting down its giant Thunder Horse platform, the world's largest, which can process 250,000 barrels of oil and 200 million cubic of natural gas per day (mmcfd), and three others.
BP's evacuations and shutdowns initiated Sunday included Atlantis, the world's second-largest offshore platform, which can produce up to 200,000 bpd of oil and 189 mmcf per day of gas.
Other offshore operators like Chevron Corp. and Royal Dutch/Shell have evacuated some workers, though they have not yet shut down any production.
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Isaac has a 95 percent chance of entering the heart of the oil and gas producing region, Weather Insight said on Sunday.
The Mississippi is also in a bad way and could impact on food and oil prices; the river level is as much as “20 feet below normal”.
http://beforeitsnews.com/environment/20 ... 45800.htmlQuote:
The worst drought in more than 50 years is having a devastating impact on the Mississippi River. The Mississippi has become very thin and very narrow, and if it keeps on dropping there is a very real possibility that all river traffic could get shut down. And considering the fact that approximately60 percent of our grain, 22 percent of our oil and natural gas, and and one-fifth of our coal travel down the Mississippi River, that would be absolutely crippling for our economy. It has been estimated that if all Mississippi River traffic was stopped that it would cost the U.S. economy 300 million dollars a day. So far most of the media coverage of this historic drought has focused on the impact that it is having on farmers and ranchers, but the health of the Mississippi River is also absolutely crucial to the economic success of this nation, and right now the Mississippi is in incredibly bad shape. In some areas the river is already 20 feet below normal and the water is expected to continue to drop. If we have another 12 months of weather ahead of us similar to what we have seen over the last 12 months then the mighty Mississippi is going to be a complete and total disaster zone by this time next year.
15 States Primary Disaster Areashttp://usa.chinadaily.com.cn/world/2012 ... 679515.htmQuote:
WASHINGTON - The United States Department of Agriculture (USDA) Wednesday designated 172 additional counties in 15 states as primary natural disaster areas due to damage and losses caused by drought and excessive heat.
Isaac is coming on top of a severe drought and heatwave that have already severely impacted on the grain and wheat harvest of the USA. The drought is also having a massive impact on the quality of the Mississippi River and water suppliies over a large area of the USA.
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