Home Economy What are possible economic issues caused by Hurricane Ian?

What are possible economic issues caused by Hurricane Ian?


(NewsNation) — Hurricane Ian, the Category 3 storm currently making its way to Florida, could affect the country’s supply chain, which has already seen its share of issues through the years.

“We’re seeing the port of Florida evacuating a lot of cargo ships,” NewsNation business contributor Lydia Moynihan said, adding that this could lead to “snafus” in the supply chain.

The Tampa Bay Times reports that Florida residents have been stocking up on items ahead of the hurricane’s arrival into the state, and shelves will likely be empty before the storm, and in the days or weeks after. Stores might also close earlier than usual to ensure employee safety, the newspaper said.

WFTV in Orlando reported high winds and power outages could also cause some issues when it comes to transporting goods. For one thing, trucks can’t operate when winds are gusting too high, experts told WFTV, so those who don’t have reserves in their tank could go without fuel shipments for a few days.

Florida’s manufacturing companies and factories could take the longest to recover, Bindiya Vakil, CEO and founder of supply chain mapping company Resilinc, told the Tampa Bay Times, as larger retailers have inventory and warehouses outside the storm’s impact zones and can restock once roads are cleared.

Pollster defends survey showing DeSantis trailing Crist

“You may not immediately see it as a consumer, but indirectly over the next few months, it does impact (the) supply chain financially because the factory that made something in Florida didn’t ship for 4 weeks,” Vakil said in the Tampa Bay Times.

As a precaution for the hurricane, BP and Chevron chose to cut oil production in the Gulf of Mexico, according to Reuters.

Luckily, though, the nation isn’t very reliant on Florida for its gasoline production, Moynihan said on “Morning in America” Tuesday.

“It doesn’t look like we’re going to take much of a hit when it comes to gas prices at the pump,” she said.

Reuters contributed to this story.

You may also like