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Costs will mount the longer the recovery takes, risk expert says, noting that loss of economic activity exceeds $100 million a day.
The economic hit from Hurricane Katrina could top $100 billion, a major insurance risk modeler said Friday.
Since it hit the U.S. energy infrastructure where it is most vulnerable -- in the oil-producing, oil-importing and oil-refining complexes of the Gulf of Mexico and the Gulf Coast -- Katrina's effects will ripple out across the nation. The economic effects may be negative enough to tip the economy into a recession next year.