The real problem is deflation. That is the opposite of inflation but equally serious to the borrower.
The gulf coast, we all know now, after Katrina, is responsible for 25 percent of U.S. production of natural gas. Following Katrina and Rita, almost 75 percent of the natural gas production in the gulf was shut down and not producing.
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Edward Irving, Clergyman (1792) |
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Lord Thomson Of Fleet, Publisher (1976) |
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