"...Katrina has shut 95 per cent of oil production from the Gulf of Mexico, which is home to a quarter of American production, according to the US Minerals Management Service.
"There's going to be a lot more damage offshore than there will be to the refineries," said Peter Beutel, president of the trading consultant Cameron Hanover. "But in this age, losing even one refinery would be worse than losing a production facility." The US Department of Energy said that at least nine US refineries were closed as a result of the hurricane, with another four reducing production rates."
Full article at: http://news.independent.co.uk/business/news/article309225.ece
