We’ll be watching history unfold over the weekend as Hurricane Irene moves across Eastern North Carolina and eventually into New England. With the track hugging the coast, strong winds, heavy rainfall, and a potentially devastating storm surge will impact millions of Americans. Like Katrina, Irene may very well become a storm that lives in infamy. While we won’t feel any winds or rains from Irene, one has to wonder what kind of trickle-down impacts will spread across the country. There’s speculation the shuttering of refineries and ports along the East Coast could cause a spike in gasoline prices nationwide, much like we saw in the weeks following Katrina and Rita, but probably not as severe. The financial markets may be hard-pressed to re-open Monday, as life will not return to normal in the Northeast as the calendar rolls to Monday. We’ll keep tabs on Irene, even though the weather in South Louisiana is nice and quiet. Here’s hoping for the best for our fellow citizens to the east.
