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Aug 26, 2008
This hurricane season's seventh storm, Gustav, has already had a bigger impact than all the storms that preceded it. It hasn't killed anyone or done any damage—though it may unleash flooding and mudslides in Haiti—except to drive oil prices above $117 a barrel (a feat the recent war in Georgia did not even accomplish).
The storm is strengthening, having reached Category 1 status—above 74 mile-per-hour winds—and the warm waters of the Gulf could give it a further boost. Forecasters are predicting it could be as strong as Category 4 by the time it churns through the heart of the oil and natural gas producing platforms in the Gulf—responsible for 20 percent of present U.S. oil production.
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