Hurricanes Weaken US Economy
It has been forty years since three hurricanes with such severity hit the United States. The hurricanes are effecting the economy because there is so much economic production in Florida. Florida has been one of the worse places hit. President Bush is asumingly going to ask congress to grant funds for Florida's damages. Also the hurricanes have slowed down oil and natural gas productions. A quarter of the oil and gas for the United States is obtained in the Gulf of Mexico where most rigs have been evacuated. Ealier in the week the gas prices rose to $1.40 a barrel and then rose again due to the hurricane damage. Check out the website: http://www.belfasttelegraph.co.uk/news/story.jsp?story=561859
Stacey
1 comment:
The notion that natural disasters (or wars, for that matter) are good for an economy is odd and serves as an example of the "broken window" fallacy. See the following link for a short explanation http://freedomkeys.com/window.htm.
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