Ida Hits Gulf Coast

Hurricane Idea made landfall yesterday in Port Fourchon, Louisiana as a Category 4 storm, with sustained winds of 150 mph.  At the time of reporting more than one million homes and businesses in Louisiana have lost electricity.

The city of New Orleans, which was devastated by Hurricane Katrina sixteen years ago to the day, is once again facing severe damage as the storm moves inland.  Governor of Louisiana, John Bel Edwards said, “This is one of the strongest storms to make landfall here in modern times.”  He went on to state that Louisiana “has never been more prepared” when discussing the state’s $14 billion levy system.  The levy system designed after Hurricane Katrina, are barriers that prevent the overflow of water onto land.  It also includes pumps, seawalls, floodgates, and drainage that provides enhanced protection from storm surge and flooding from a hurricane or tropical storm.

President Biden approved Louisiana’s disaster declaration Sunday evening which frees federal aid for people and government affected by the storm.  While Ida has now weakened to a tropical storm, the focus will  be on restoring power and cleanup efforts.

Written by:

With a combined 10 years of customer service and sales experience, I am a detailed and efficient person who provides integrity and exemplary customer service to every business relationship. Consulting, cultivating and caring are qualities that my customers appreciate most.

Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED “AS IS,” WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.