CNN says that Hurricane Florence will likely be the hurricane of a lifetime for portions of the Carolina coast. This is a monster hurricane with tropical storm force winds stretching more than 500 kilometers.
A private weather-forecasting firm is estimating that Hurricane Florence will cause over $50 billion in economic damages. Accuweather said in a news release Thursday that most of the damage will come from flooding, coastal damage and wind.
Nuclear power plants will begin shutting down in advance of hurricane force winds. Shutdowns are required before winds reach 74 mph (119 km/h). An estimated 25-75% of homes and businesses will be without power across North and South Carolina.
Four major gas producing areas are within the potential path of the hurricane which could reduce natural gas production according to Platts Analytics. LNG terminals could also be disrupted.
So far, the storm has had little impact on gas prices.
