Gas prices weathering Gustav - so far - so?

NVDL: It's crazy. No one knows to what extent Gustav damaged vital LOOP infrastructure. All we know is that Gustav weakened slightly at landfall, and we know that as of now, 20% of US production is completely shutdown. Even if there is zero damage, a 20% shutdown is significant. So a $4 slide is really based on hubris, a delusional level of hubris. It would be more rational for prices to have remained stable, or to have dropped slightly until further information came through.

clipped from money.cnn.com NEW YORK (CNNMoney.com) -- Now that Hurricane Gustav has made landfall, energy analysts say that the fate of gas prices in coming days could hinge on possible damage to the area's dozens of refineries that turn crude into gasoline. Gas prices could decline following Monday's plunge in oil prices and gas futures. But the extent of the damage from Hurricane Gustav remains to be seen. The U.S. Department of Energy said Monday that 12 refineries have shut down and 10 have reduced their output.