Hurricane Katrina

===Economic effects===
{{Main|Economic effects of Hurricane Katrina}}
{{Costliest U.S. Atlantic hurricanes|align=right}}

The economic effects of the storm reached high levels. The [[Presidency of George W. Bush|Bush Administration]] sought $105 billion for repairs and reconstruction in the region,<ref>St. Onge, Jeff; Epstein, Victor. [https://www.boston.com/news/nation/washington/articles/2006/04/01/ex_chief_says_fema_readiness_even_worse/ "Ex-chief says FEMA readiness even worse"]. {{Webarchive|url=https://web.archive.org/web/20160304064250/http://www.boston.com/news/nation/washington/articles/2006/04/01/ex_chief_says_fema_readiness_even_worse/ |date=March 4, 2016}} ''Boston.com''. April 1, 2006. Retrieved on June 5, 2006.</ref> which did not account for damage to the economy caused by potential interruption of the [[petroleum|oil]] supply, destruction of the Gulf Coast's highway infrastructure, and exports of commodities such as grain. Katrina damaged or destroyed 30 [[oil platform]]s and caused the closure of nine [[oil refinery|refineries]];<ref name="katreport"/> the total shut-in oil production from the Gulf of Mexico in the six-month period following Katrina was approximately 24% of the annual production and the shut-in gas production for the same period was about 18%.<ref>Fagot, Caryl; Winbush, Debra. [http://www.mms.gov/ooc/press/2006/press0222.htm "Hurricane Katrina/Hurricane Rita Evacuation and Production Shut-in Statistics Report as of Wednesday, February 22, 2006"]. {{webarchive|url=https://web.archive.org/web/20060510213820/http://www.mms.gov/ooc/press/2006/press0222.htm |date=May 10, 2006}} [http://www.mms.gov/ ''U.S. Government Minerals Management Service'']. {{webarchive|url=https://web.archive.org/web/20051126001158/http://www.mms.gov/ |date=November 26, 2005}} February 22, 2006. Retrieved on June 5, 2006.</ref> The forestry industry in Mississippi was also affected, as {{convert|1.3|e6acre|km2}} of forest lands were destroyed.<ref name="CRS environment">{{cite web
 |last=Sheikh
 |first=Pervaze A.
 |date=October 18, 2005
 |url=http://assets.opencrs.com/rpts/RL33117_20051018.pdf
 |title=The Impact of Hurricane Katrina on Biological Resources
 |publisher=[[Congressional Research Service]]
 |access-date=April 14, 2010
 |archive-url=https://web.archive.org/web/20080624185025/http://assets.opencrs.com/rpts/RL33117_20051018.pdf
 |archive-date=June 24, 2008
 |url-status=dead
}}</ref> The total loss to the forestry industry from Katrina is calculated to rise to about $5 billion.<ref name="CRS environment"/> Furthermore, hundreds of thousands of local residents were left unemployed. Before the hurricane, the region supported approximately one million non-farm jobs, with 600,000 of them in New Orleans. It is estimated that the total economic impact in Louisiana and Mississippi may eventually exceed $150 billion.<ref>Burton, Mark L.; Hicks, Michael J. [http://www.marshall.edu/cber/research/katrina/Katrina-Estimates.pdf "Hurricane Katrina: Preliminary Estimates of Commercial and Public Sector Damages"]. {{webarchive|url=https://web.archive.org/web/20051017133300/http://www.marshall.edu/cber/research/katrina/Katrina-Estimates.pdf |date=October 17, 2005}} ''[[Marshall University]]: Center for Business and Economic Research''. September 2005. Retrieved on June 5, 2006.</ref> Forensic accountants were involved in the assessment of economic damages resulting from this catastrophe.<ref>Insurance Institute. {{cite web|url=http://documents.insuranceinstitute.ca/english/localchapters/manitoba/BusinessInterruptionFormIIMA.pdf |title=Business Interruption |access-date=May 20, 2014 |url-status=dead |archive-url=https://web.archive.org/web/20140521031743/http://documents.insuranceinstitute.ca/english/localchapters/manitoba/BusinessInterruptionFormIIMA.pdf |archive-date=May 21, 2014}} Retrieved on May 17, 2014.</ref>

Katrina displaced over one million people from the central Gulf coast to elsewhere across the United States, becoming the largest [[diaspora]] in the history of the United States.<ref>Anthony E. Ladd, John Marszalek, and Duane A. Gill. [https://web.archive.org/web/20080624185024/http://www.ssrc.msstate.edu/katrina/publications/katrinastudentsummary.pdf The Other Diaspora: New Orleans Student Evacuation Impacts and Responses Surrounding Hurricane Katrina.] Retrieved on April 14, 2010.</ref> [[Houston, Texas]], had an increase of 35,000 people; [[Mobile, Alabama]], gained over 24,000; Baton Rouge, Louisiana, over 15,000; and [[Hammond, Louisiana]], received over 10,000, nearly doubling its size. [[Chicago, Illinois]] received over 6,000 people, the most of any non-southern city.<ref>{{cite news | url = http://chicagodefender.com/page/local.cfm?ArticleID=6776 | title = Katrina evacuees at home in Chicago | first = Mema | last = Ayi | newspaper = [[Chicago Defender]] | date = August 30, 2006 | access-date = April 14, 2010 |archive-url = https://web.archive.org/web/20071212040739/http://chicagodefender.com/page/local.cfm?ArticleID=6776 |archive-date = December 12, 2007}}</ref> By late January 2006, about 200,000 people were once again living in New Orleans, less than half of the pre-storm population.<ref name="popestimate">{{cite web|first1=Greg |last1=Stone |first2=Tim |last2=Grant |first3=Nathaniel |last3=Weaver |year=2006 |title=Rapid Population Estimate Project: January 28–29, 2006 Survey Report |publisher=Emergency Operations Center, City of New Orleans |access-date=April 14, 2010 |url=http://katrina.lsu.edu/downloads/research/NOLAPopEstimate.pdf |url-status=dead |archive-url=https://web.archive.org/web/20100707170953/http://katrina.lsu.edu/downloads/research/NOLAPopEstimate.pdf |archive-date=July 7, 2010}}</ref> By July 1, 2006, when new population estimates were calculated by the [[U.S. Census Bureau]], the state of Louisiana showed a population decline of 219,563 or 4.87%.<ref name="popdecline">Christie, Les. [https://money.cnn.com/2006/12/22/real_estate/fastest_growing_states/index.htm?postversion=2006122209 "Growth states: Arizona overtakes Nevada: Texas adds most people overall; Louisiana population declines nearly 5%"]. {{Webarchive|url=https://web.archive.org/web/20070106133918/http://money.cnn.com/2006/12/22/real_estate/fastest_growing_states/index.htm?postversion=2006122209 |date=January 6, 2007}} ''CNN''. December 22, 2006. Retrieved on December 22, 2006.</ref> Additionally, some [[Insurance|insurance companies]] have stopped insuring homeowners in the area because of the high costs from Hurricanes Katrina and Rita, or have raised homeowners' insurance premiums to cover their risk.<ref>Staff Writer. [https://www.cbsnews.com/stories/2006/05/28/eveningnews/main1663142.shtml "More Bad News Blows In From Katrina"]. {{Webarchive|url=https://web.archive.org/web/20061015003101/http://www.cbsnews.com/stories/2006/05/28/eveningnews/main1663142.shtml |date=October 15, 2006}} ''CBS News''. May 28, 2006. Retrieved on June 5, 2006.</ref>

{{clear}}