Oil and Gas:
Energy groups explain how hurricane affected Gulf Coast oil production
With refineries offline, pipelines down, and price spikes at the gas pump, Hurricane Katrina had a massive effect on the U.S. energy sector. As oil companies work to restore their gulf facilities, two energy experts explain how the storm could affect energy prices for months to come. Bob Slaughter, president of the National Petrochemical and Refiners Association, and John Felmy, chief economist at the American Petroleum Institute, discuss post-hurricane recovery efforts and offer some suggestions for lawmakers considering another round of energy legislation.