Hurricane Irene may cause gas price spike
@CNNMoney August 26, 2011: 2:13 PM ET
Analysts say up to 10% of the nation's refining capacity could be offline in the coming days thanks to Hurricane Irene.NEW YORK (CNNMoney) -- Hurricane Irene is bearing down on the East Coast, threatening nearly 10% of the nation's refining capacity that lies in Philadelphia, New Jersey and Delaware.
New York Mayor Michael Bloomberg said low-lying sections of the city, mostly along the city's waterfront, are under mandatory evacuation orders. The mandatory evacuations, which affect all five boroughs, are the first in New York's history, he said.