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The Katrina Catastrophe

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The Katrina Catastrophe The Katrina Catastrophe uch has already been TABLE 1: HURRICANE DAMAGE, 1965 TO 2004 written and said about the Description of Hurricane Loss of Life Damage Estimates Menergy costs to the nation (U.S. Casualties) (Adjusted to 2000 Dollars) resulting from the devastation brought HURRICANE BETSY: August 27 - September 12 1965 $8.5 billion by Hurricane Katrina. Yet there are LOCATION: Southern Florida and Louisiana 75 ESTIMATED DAMAGE: $1.4 Billion other costs and, without being ghoulish, benefits to be considered. Some of HURRICANE CAMILLE: August 14 - 22 1969 LOCATION: Mississippi, Louisiana, Alabama, Virginia, West Virginia 256 $6.9 billion these will apply to Indiana specifically. ESTIMATED DAMAGE: Camille $1.4 Billion In the next year, hundreds of HURRICANE AGNES: June 14 - 23 millions of dollars will be spent on 1972 LOCATION: Northwest Florida to New York 117 $8.6 billion rebuilding homes and businesses in ESTIMATED DAMAGE: $2.1 Billion Louisiana, Mississippi and Alabama. HURRICANE FREDERIC: August 29 - September 15 Structures will have to be rebuilt 1979 LOCATION: Alabama and Mississippi $4.9 billion which will require both materials ESTIMATED DAMAGE: $2.3 Billion and labor. Infrastructure rebuilding HURRICANE ALICIA: August 15 - 21 in the devastated areas will have 1983 LOCATION: Galveston and Houston, Texas 21 $3.4 billion similar effects as bridges, roads, ESTIMATED DAMAGE: $2.0 Billion levees, electrical and other systems are HURRICANE JUAN: October 6 - November 1 1985 restored. LOCATION: Louisiana and the Southeast 63 $2.4 billion Hoosier workers and businesses can ESTIMATED DAMAGE: $1.5 Billion benefit from these efforts. At the same HURRICANE HUGO: September 10 - 22 1989 $9.7 billion time, projects in the Hoosier state may LOCATION: Caribbean Sea, South Carolina, and North Carolina 57 become more expensive as labor and ESTIMATED DAMAGE: $7.0 Billion materials flow to meet the needs along HURRICANE ANDREW: August 22 - 26 1992 26 $34.9 billion the Gulf coast. LOCATION: Bahamas, Southern Florida, and Louisiana ESTIMATED DAMAGE: $26.5 Billion Hoosier businesses will benefit as HURRICANE OPAL: November 29 effected Southern enterprises rebuild 1995 $3.5 billion LOCATION: Florida Panhandle and Alabama 9 their inventories. Orders will flow to ESTIMATED DAMAGE: $3.0 Billion our factories to replace goods damaged HURRICANE FRAN: September 5 or destroyed in the storm. Machinery 1996 LOCATION: North Carolina and Virginia 37 $3.6 billion will be in high demand for specialized ESTIMATED DAMAGE: $3.2 Billion construction efforts. HURRICANE FLOYD: September 14 - 18 None of these anticipations are stated 1999 LOCATION: Bahamas to New England 57 $4.6 billion with pleasure. The vagaries of natural ESTIMATED DAMAGE: $4.5 Billion disasters are never a source of joy. TROPICAL STORM ALLISON: June 8 - 15 2001 LOCATION: Gulf Coast to Southern New England 41 $5.0 billion* —Morton Marcus, Director Emeritus, ESTIMATED DAMAGE: $5.0 Billion Indiana Business Research Center, Kelley School of Business, Indiana University HURRICANE ISABEL: September 18 2003 LOCATION: North Carolina and Virginia 50 $3.7 billion* ESTIMATED DAMAGE: $3.7 Billion HURRICANE CHARLEY: August 13 HURRICANE FRANCES: September 5 HURRICANE IVAN: September 16 2004 152 $42 billion* HURRICANE JEANNE: September 26 LOCATION: Florida, Alabama, and Southern United States TOTAL ESTIMATED DAMAGE: $42 Billion *Not adjusted to 2000 dollars Sources: IBRC, using “U.S. Hurricanes” from Infoplease at www.infoplease.com/ipa/A0001443.html, and NOAA at www.ncdc.noaa.gov/oa/climate/ Source: NOAA, U.S. Department of Commerce research/2004/hurricanes04.html#impacts. September 2005 www.incontext.indiana.edu incontext 3.
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