Forbes: “Isaac Could Rival Katrina”
I grabbed this off Face Book. The person who posted it said it was Isaac rolling into Key West. (BTW: Not sure that it is an actual photo of Isaac, but awesome just the same...)
On August 24th, we warned on Forbes that Tropical Storm Isaac could pose a threat to energy markets and even rival Hurricane Katrina in its destructive power (Could Tropical Storm Isaac Turn Into Another Katrina?). While the computer models are still showing a substantial spread in solutions, it appears more likely that Isaac will make landfall somewhere near the Louisiana, Mississippi Gulf Coast. This track will provide the storm more time to intensify over the very warm water of the Gulf of Mexico.
The entire Gulf Coast from Lake Charles, LA to Panama City, FL should be aware of the latest forecast model guidance. The reason for this large spread is because the computer models are split between whether a trough will capture Isaac or not. As of 8AM Sunday morning, it appears Isaac will not be captured and as a result, a more westward track is most likely.
Hurricane Katrina made landfall near New Orleans on Aug 29, 2005. It is estimated that the total economic impact in Louisiana and Mississippi exceeded $110 billion, earning the title of the most expensive hurricane ever in US history.
As Katrina moved through the heart of the Gulf of Mexico offshore oil and natural gas production area, it negatively impacted nearly 20% of US oil production. Hurricane Katrina, followed by Hurricane Rita in September, destroyed 113 offshore oil and gas platforms and damaged 457 oil and gas pipelines. Oil, gasoline, and natural gas futures prices on the NYMEX soared as damage assessments were reported.
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