Economic recovery from Katrina may take years: Chemical Council

Washington (Platts)--2Sep2005

Local economies may require "months or even years" to recover from the
impact of Hurricane Katrina, the American Chemistry Council said Friday.
     "The number one priority of our companies is caring for the safety and
well being of employees impacted by Katrina," the ACC said. "Our companies
plan for such contingencies and design facilities to withstand hurricane
forces to ensure minimal environmental impact."  
     Roughly five days after Katrina slammed into the Gulf Coast, "all
companies either have assessed or are presently assessing the impact on their
operations," the ACC said. "Based on available information, it appears the
integrity of our companies' production facilities has been maintained."
     However, "Katrina's impact on the production of chemical products near
the Gulf of Mexico could prove significant," the ACC warned, since some
chemical facilities in the region "currently are idle due to high water and
lack of power, transportation and feedstocks." In addition, higher natural gas
prices will have further negative impact on chemical companies, the group
said.
     "Katrina's aftermath painfully underscores the need for conservation,
improvements in the nation's energy infrastructure and access to America's own
natural gas resources," the ACC added.

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