Harvey could cost more than Katrina and Sandy combined
Homes are surrounded by floodwaters from Tropical Storm Harvey Tuesday, Aug. 29, 2017, in Spring, Texas. (David J. Phillip / AP)
Accuweather projects Harvey could be "the most costly natural disaster in United States history," and estimates that its economic impact on GDP is $190 billion, which exceeds that of Katrina and Sandy combined.
- "Much of the damage ... is uninsured." (Bloomberg Businessweek)
- "Harvey is straining the global superhighway of the energy trade," per WSJ: "More than a dozen refineries are affected — including the country's two biggest, Saudi Arabian Oil Co.'s Motiva facility in Port Arthur and Exxon Mobil Corp.'s Baytown facility — cumulatively representing more than 30% of U.S. refining capacity."
- "Katrina Survivors Relive Ordeal," per WSJ: A dozen years ago, "Katrina uprooted residents to cities across the U.S., but Houston received the largest share outside Louisiana. Of the 150,000 to 200,000 evacuees who initially arrived in Houston, as many as 40,000 remain."
- Houston Chronicle banner: "THREATS RISE FROM RESERVOIRS, RIVERS: As sun finally returns, a devastated region tallies the damage." (Read the digital paper free.)