How the oil industry experienced Hurricane Katrina

Sallie Rainer, president and CEO of Entergy Texas, which is owned by New Orleans-based Entergy Corp., an integrated energy company

“We always had a plan in place, but with the full devastation that came with Katrina, we had to create a new plan,” said Sallie Rainer, Entergy Texas CEO. In the wake of the storm, hundreds of people from Entergy’s New Orleans headquarters were shifted to The Woodlands, with some staying permanently. — HBJ

Everyone in the U.S. is remembering New Orleans today, the 10-year anniversary of Hurricane Katrina.

Today, the Houston Business Journal has published a Special Section on the subject, concentrating on Houston and the oil industry. We’re going to print a few excerpts and we urge you to read as much as you can – some of it is pretty technical.

What it illustrates for us is just how resilient our free enterprise capitalist system is. How has the South fared, especially the Gulf Coast of Texas, since Katrina, and what were the early days following the hurricane like?

Rainer had nine people staying in her Houston home in the wake of the hurricane. She said the company’s internal disaster-preparedness plan was also turned upside down.

“It was a huge learning experience,” she said. “We developed much more robust plans built on business continuity. Our company is much more focused on preparation now and having plans in place for that. There is a lot of coordination that has to happen.”

W&T Offshore Inc. (NYSE: WTI) “…moved 150 employees and their families to Houston almost overnight, putting them in host homes, hotels and other spots, and finding them clothing and schooling for their children,” said the HBJ article.

“We did have a disaster plan, but it didn’t include a total move of the office from one city to another overnight,” said Tracy W. Krohn, chairman and CEO of W&T.”

“Then, just two and a half weeks later, Hurricane Rita was threatening to hit Houston. Not willing to take any chances this time around, W&T chartered a 757 airplane and took all of the employees that were now in Houston to Kansas City,” according to the HBJ.

The City of Houston also helped “by opening public shelters, feeding the evacuees, getting children enrolled in schools and helping relocated employees reconnect with their companies, W&T’s Krohn said.”

Patrick Jankowski, SVP of research at the Greater Houston Partnership, said Houston was ready when the spotlight turned on the City — and it did. He said “many apartment landlords opted to waive deposits, background checks and credit checks in order to provide living spaces for evacuees, and office-building landlords were willing to offer short-term leases for three or six months.”

Does this restore your faith and confidence in the intelligence and goodness of Americans, generally, and Texans, specifically? It certainly does ours.

What do we learn from this? Don’t panic!

[P.S. This is Post #14 in binary – 1110 in the decimal system.]

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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