As Hurricane Katrina passes over New Orleans, the first concern is potential loss of life. The second is cultural and aesthetic, when when consider the potential destruction to one of America's most treasured cities.

But the third is most likely to be felt all through the U.S. as we begin to look at the damage and destruction to our Gulf refining capacity and the damage to our ports which bring in millions of barrels of oil from abroad. The whole world can see it in the price of oil on international markets as it rocket into the $70 range.

But physical supply itself will be sorely tested in the U.S. and oil prices are high because of it. Steve H. at Hog On Ice has an excellent, knowledgeable item here about what is at stake, including the names and functions of key oil rigs and platforms, all of which are going through the unthinkable with the passing of Hurricane Katrina.

We can only hope for the best.

A. M. Mora y Leon   8 29 05