QUOTE(southsider2k5 @ Oct 27, 2005 -> 11:15 AM)
Tehnically yes, in a PnL sense, the effect would be negligible. For all practical purposes the refinary products would hit in the 4thQ, and the effect of the destroyed platforms is 6 months after they shutdown production.
First, what does PnL mean?
If the refinery repair costs don't really hit until Q4, which is probably a fair thing to say unless they started rapidly budgeting for those costs (which they probably didnt) when Katrina first hit. But isn't it also fair to say that the Katrina-related gas price spike and whatever profits were associated with it are in fact probably included in those numbers?