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The excellent energy blog, The Oil Drum, is closely monitoring the effects of Hurricane Ike on the refineries and off-shore drilling platforms in the Gulf Coast. According to co-editor Professor Goose, the Galveston-area oil industry can refine up to 5 million barrels per day (bpd) — or about 30 percent of the nation's total oil refining capacity. The area took a direct hit by the storm according to satellite image maps at the site. Commenters are predicting oil and natural gas shortages and prices spikes, the extent of which won't be known until more comprehensive damage reports are in.