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Hurricane Katrina

Economic Impact of Hurricanes Isaac & Katrina. Hurricane Isaac. Hurricane Katrina. Damage: August 21- September 1, 2012 Category 1 when it reached the Louisiana coast Storm surges reached 15 feet above normal tide level, causing the river to reverse its flow for about 24 hours

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Hurricane Katrina

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  1. Economic Impact of Hurricanes Isaac & Katrina Hurricane Isaac Hurricane Katrina • Damage: • August 21- September 1, 2012 • Category 1 when it reached the Louisiana coast • Storm surges reached 15 feet above normal tide level, causing the river to reverse its flow for about 24 hours • 700,000 power outages in New Orleans. • Winds gusted to about 80 mph • Economic Impact: • Estimiated Damages: $2 billion • GDP:Isaac expected to represent 0.1% in 2012. • Gas/Oil Production: 2/3 of gas production shut down in anticipation of the arrival of Isaac, $10 million dollars worth of gas is not being produced each day. • Gas prices: caused a temporary increase of prices between 5cents and 15 cents. • Disrupted work in 9 states and boosted unemployment aid applications by 9,000 • Damage: • August 23- August 30, 2005 • Category 3 when it reached the Louisiana coast • Storm surge flooding of 10-20 feet above normal tide levels in Louisiana • Excessive flooding causes levee to break in New Orleans. • Wind gusts up to 87 mph • Economic Impact: • Estimated Damages: $108 billion, making it the costliest mainland hurricane in the US • GDP: Katrina represents 0.95% in 2005 • Gas/Oil Production: pre-Katrina, 10% of all petroleum and 24% of all gasoline used in the US produced in the Gulf Coast. • Gas Prices: caused an increase of 40 cents within six days. • Gambling: Many casinos had to close and evacuate, some not re-opening until 2006 or 2007. About 14,000 employed by casinos pre-Katrina.

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