Nate May Bring $1 Billion Damages to Hurricane-Weary Region

  • Storm has forced rig evacuations, could hurt cotton crops
  • September was the most active month for storms on record

Hurricane-Weary Region Braces for Approaching Storm Nate

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Tropical Storm Nate, on track to strike near New Orleans overnight Saturday, may cause close to $1 billion in damage across Central America and the U.S., following the most powerful month of hurricanes on record.

Nate has triggered flooding and landslides in Central America, leaving at least 17 dead in Costa Rica and Nicaragua, and shuttered oil and natural platforms in the Gulf of Mexico. The storm could make landfall in the U.S. as a Category 1 hurricane with winds topping 74 miles (119 kilometers) an hour. Soaking rains across eastern Mississippi and Alabama may damage cotton crops. Gas output in the Gulf fell to a three-year lowBloomberg Terminal.