Shortage looms if jet-fuel disruption not fixed soon

[bustarbusto]

from USA Today via Randi Rhodes (with apologies if already posted. Things are moving at a pretty good clip here)

Shortage looms if jet-fuel disruption not fixed soon
By Dan Reed, USA TODAY

Major airports in the East and Southeast could run out of jet fuel as soon as next week if refinery and pipeline shutdowns aren't resolved soon.

Shortages appear most severe at airports in Charlotte, Tampa, Orlando and Fort Myers, Fla. But two of the USA's busiest airports could also be affected — Atlanta's Hartsfield-Jackson and Washington Dulles.

Industry consultant John Armbrust says the supply disruption could cause some airports to run out of fuel in a week or two. John Heimlich, chief economist at the airline trade group Air Transport Association, says two weeks is more realistic.

"By then, we'd better have this problem rectified or we'll have a serious problem," Heimlich says.

http://www.usatoday.com/money/biztravel/2005-08-31-katrina-jetfuel-usat_x.htm

[bustarbusto]

1. Stagflation

Not to bump my own post, but the reason I posted this is to point out that stagflation, the economic condition that killed the Carter administration, is coming up fast and furious -- in my not particularly well-informed opinion. It's just a hunch, but here are some contributing factors:

The high gasoline prices are going to seriously dent consumer spending. The rampant increase in demand together with the Gulf crises (Mexico and Persian) are going to keep pushing those prices up with no end in sight. Household incomes have already been declining for some time. Couple that with looming transportation chaos in the air sector due to the aforementioned fuel shortages, and the already flimsy economic recovery is going to turn upside-down. Welcome to a period of zero economic growth and high inflation.

Good news is, the incumbent administration, rightly so in this case, will take the political hit. It's starting to look as though a turnaround is not just possible, but likely, in the 2006 mid-terms.