From comments at the Oil Drum:
Refiners: "We are at our limit, can’t use the sour crude, pushing off repairs and closing down production in anticipation of Rita"
OPEC: "Want more Heavy Sour Crude? Here’s 2 mbd. Otherwise we are at our limit."
Nigeria: "We are in a civil war and cannot guarantee production."
Iraq: "We are in an insurgency/civil war and cannot guarantee production."
Iran: "We are going to leave OPEC and cut exports if you keep trying to block our Nuke plants"
Venzuela: "America is going to invade us for our oil"
Non-OPEC: "We are at our production limit"
GM: Hey, everybody! Look at the new SUV’s we’re announcing! Shiny!
Well, at least you can be sure that Bush will be there:
The president won’t be happy until he dons a yellow slicker and actually takes the place of Anderson Cooper, violently blown about by Rita as he talks into a camera lens lashed with water, hanging onto a mailbox as he’s hit by a flying pig in a squall, sucked up by a waterspout in the eye of the storm over the Dry Tortugas.
Bush may even recover in the polls on disaster response – if the people see a "strong" president in a Texan hurricane and forget about a very weak president in the Louisiana hurricane. Well, Karl Rove will see to that.
But the price at the pump is the most immediate factor that counts in the polls. Rove has no way to avoid that slump.
If Rita really hits the dangerous spots, Bush will be made responsible.
The folks who once lived in New Orleans will be screwed anyhow. Those 200 billions that somehow will be cut out of any decent program that is left will now go to Texas and directly into Bush’s friends pockets. And that will be totally independent of Rita’s real strenghts and the real devastations.