$16 Billion damages from Ike to wreak more havoc on economy
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- hew2702
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http://www.msnbc.msn.com/id/26796366/
"Shrimpers and oystermen are dredging their boats from the muck. Tourist areas on the coast that should be bustling at the start of convention season are flattened. Lingering power outages are keeping offices empty and restaurants closed from Texas through the Midwest."It will take months or more to tally Hurricane Ike's financial toll, but one thing is clear: Almost nobody in its path escaped unscathed.
"'Every industry has been impacted by this storm,' said Jeff Sjostrom, president of the Galveston Economic Development Partnership.
"The storm carried hurricane-force winds as far north as Kentucky — which suffered its widest power outage in history — and driving rain clear into New England. More than 500,000 people remained without power Friday in Kentucky and Ohio; schools in Louisville, Ky., were to open Monday after Ike closed them for a week.
"Risk Management Assessment Inc., which quantifies risks for insurance companies, estimated Ike's impact would land in the low end of the $6 billion to $16 billion in insured losses that the firm initially predicted.
"In Houston, where the booming energy industry has kept the nation's fourth-largest city economically stable in a nationwide slump, the outlook was downright positive. The city's port survived with minimal damage, and the Gulf of Mexico's oil and gas production barely took a dent.
"'I'd rather be in Houston right now than Wall Street,' said Leo Linbeck III, a Rice University professor."
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MeganMcKenzie
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Wait until we allow global warming to really take hold and then see how much we are spending to rebuild our drowning cities.
We NEED to wake up. It is only going to get worse and we cannot keep the ocean out if we insist on melting the ice.
- 4 years ago
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MeganMcKenzie
