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Peak oilers have raved about a documentary called “Oil Storm.” It’s a scenario in which America’s economy collapses after a hypothetical (September 2005) hurricane destroys the gulf rigs and refineries, limiting oil supply and ravaging the fabric of American society. Oil storm screens Sunday week on 7, here in Sydney Australia
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If that were a true scenario then why didn't hurricane Katrina destroy the US economy? As far as I can tell it has had some, but not that much, effect on the price of oil. And it looks like this effect will only be temporary.