Here we go again. In terms of the human cost, I don't want to even think about it at this point (maybe the second time is the charm for the feds?). As far as economic costs, I doubt that the markets will shrug off a second relatively direct hit on the already thrashed oil/nat gas infrastructure a second time. Speaking of which... is anyone else worried about how much gold has gone up in the past few days?
From http://weather.admin.niu.edu/forecast.txt
EVENT #3: Rita. I looked at the latest model data and I just shook my
head. Here's what the media and the National Hurricane Center (NHC) AREN'T
telling you: the model late this morning shifted the track eastward from
what they are showing here as of 11 AM Monday:
http://www.nhc.noaa.gov/refresh/graphics_at3+shtml/153924.shtml?5day
The latest GFDL model, one of the best hurricane models out there, is in
fact showing a 150 MPH hurricane (strong category 4) slamming into
New Orleans on Friday, with the NHC model taking it right through
the city as well. The official NHC track will be adjusted eastward later
today; they like to be conservative and want to make sure this thing is
heading into Louisiana before they cause inevitable alarm along the Gulf
coast. However, they should have 60 hours of lead time on this one,
wherever it heads inland. The Gulf of Mexico has recovered almost
completely from Rita; the coolest water temperatures are at 86 degrees,
and 85 degrees will easily support a major hurricane. All indications are
that Rita will intensify rapidly once it gets by Florida and increase to
a category 4 or 5 hurricane on the Saffir-Simpson intensity scale with
sustained winds of 135 MPH and higher. Barring unforeseen miracles, this
should hit the U.S. as a potentially catastrophic hurricane around Friday
somewhere along the Texas or Louisiana Gulf coast, potentially as strong
as Katrina.
As of 1 AM, here were the forecast model and NHC forecast tracks of
Rita. The latest GFDL, not shown, is further east and is near the track
of the "NHC98" model which also takes it into New Orleans.
Remember... it's 150 miles wide