The food-stamp economy
On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America? Full Article
Hurricane Gustav did little damage offshore: MMS
NEW YORK (Reuters) - The Minerals Management Service said on Thursday that Hurricane Gustav did very little damage to offshore oil infrastructure, destroying only one platform from among the Gulf's 3,800 structures.
"The platform was an unmanned structure and accounted for approximately 0.01 percent of the Gulf of Mexico's oil production and 0.04 percent of the Gulf of Mexico's natural gas production," MMS said in a press release.
Five other platforms received moderate damage that will require up to three months of repairs before production can be restored, and another 35 platforms received minor damage requiring less than one month of repairs, MMS said.
"It's very encouraging that reports of damage to date have been minor. At the same time, we have just started to see reports and it will take several weeks before we have a more comprehensive picture," said Randall Luthi, Director of the Minerals Management Service, in the release.
The Gulf of Mexico has a capacity to produce 1.3 million barrels per day of oil, about a quarter of U.S. production, and 7.4 billion cubic feet per day of gas, the MMS said.
Hurricane Gustav crossed the Gulf of Mexico in late August and made landfall west of New Orleans September 1.
(Editing by Jim Marshall)
