Originally published on Fri August 31, 2012 5:12 pm
As a tropical storm was gathering strength last week, fears were growing that the fierce winds might knock out Gulf Coast refineries, send gasoline prices soaring and seriously damage the U.S. economy.
But when Hurricane Isaac slammed into the Gulf Coast on Tuesday, it was only a Category 1 hurricane, far weaker than Katrina, the monster storm that hit seven years ago.
Updated: Sometime Tuesday, Hurricane Isaac could bring significant weather conditions to more than a thousand drilling rigs and platforms in the Gulf of Mexico. Oil prices are already on the rise. As you can see in the map to the right by Accuweather, there are several Gulf drilling regions that are under a "high" or "moderate" threat by the storm.