Sunday, September 14, 2008

Do Hurricanes Even Matter? Because you might have to give back your house, your car - you could lose your job and even your ability to get around at all

clipped from

HOUSTON - From Florida to Tennessee, and all the way up to Connecticut, people far from Hurricane Ike's destruction nonetheless felt one of its tell-tale aftershocks: gasoline prices that surged overnight — to nearly $5 a gallon in some places.

A gas station roof is seen laying on gas pumps caused by high winds from Hurricane Ike, Saturday, Sept. 13, 2008, in Beaumont, Texas. The storm blew out skyscraper windows, cut power to millions and swamped thousands of homes along the coast. Yachts were carried up onto roadways, buildings and homes collapsed and cars floated in floodwaters. (AP Photo/Tony Gutierrez)

Late Saturday the U.S. Minerals Management Service said there were two confirmed reports of drilling rigs adrift in the central Gulf of Mexico.

"A lot of it is simply incredible," Blumenthal said, "and a lot of the price increases make no sense economically in terms of supply and demand."

The price jumps came after the wholesale price of gasoline soared to $4.85 a gallon Friday in anticipation of Ike's arrival.

"By the time it hit 6 o'clock news and 11 o'clock news it was like snow was falling and milk and bread were flying off the shelves."

"People are outraged," Daugherty said. "Everyone is having a hard time understanding all of this."

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