Hurricane Gustav is almost in the center of the Gulf as a category 3 storm.  While it lost some of it kick over night, forecasters are predicting Gustav will grow to a Category 4.

As noted previously, New Orleans Mayor Ray Nagin has ordered the evacuation of the city and the U.S. government has declared a state of emergency.  In addition, the Texas Governor activated 5,000 members of the National Guard in preparation for a potential disaster and mandatory evacuation for Jefferson and Orange counties are taking place.

From an economic perspective be prepared for gas prices to rise significantly over the next one to three weeks.  This is due to a shutdown or roughly 77% of oil output and 37% of natural gas production in the Gulf.

More to come…

Hurricane Gustav, which was a Category 3 storm just days ago, is showing signs of growth.  As the storm rolled through Cuba it grew to a Category prompting more than 240,000 people to be evacuated.  Experts are already predicting this storm has the potential to rival Hurricane Katrina .  Unlike 2005, government officials are taking proper steps to safeguard the population.

By Friday evening Ray Nagin, Mayor of New Orleans, ordered all vacationers out of the city by nightfall, the Nation Guard is in place to protect property, President Bush has already declared a state of emergency and a fleet of busses are already moving some 30,000 people out of the city for safer ground.  (source 1, source 2)

Hurricane Katrina was a disaster for a number of reasons – the destruction of property, the loss of life, the response of both local and federal government agencies has transformed a historic city into a partial ghost town.  Based on the actions taken by officials it looks like precautions are being made to prevent Katrina Part 2 from occurring.

Do you think someone has learned a lesson?

Update – Current Strom Track