• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent

2

The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 

3

Cognizant CEO is swimming against the tide on AI: he's hiring over 20,000 graduates this year and says AI tokenmaxxing is a 'vanity metric'

1

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent

2

The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 

3

Cognizant CEO is swimming against the tide on AI: he's hiring over 20,000 graduates this year and says AI tokenmaxxing is a 'vanity metric'
FinanceOneTime

Alberto Could Bring $1 Billion in Economic Losses to Gulf Coast

By
Bloomberg
Bloomberg
and
Wilder Davies
Wilder Davies
Down Arrow Button Icon
By
Bloomberg
Bloomberg
and
Wilder Davies
Wilder Davies
Down Arrow Button Icon
May 27, 2018, 12:24 PM ET
Tropical Weather, Gulfport, USA - 26 May 2018
Mandatory Credit: Photo by Rogelio V. Solis/AP/REX/Shutterstock (9694280b) Tommy Whitlock, Joseph Buckner. Tommy Whitlock, left, places a filled sand bag onto his trailer at a Harrison County Road Department sand bag location, as his friend Joseph Buckner adjusts the load while preparing for Subtropical Storm Alberto to make its way through the Gulf of Mexico in Gulfport, Miss., . Whitlock, who lives near a creek wants to keep the spill off water from entering his home. The slow moving storm is threatening to bring heavy rainfall, storm surges, high wind and flash flooding this holiday weekend. Several similar setups were placed throughout the Mississippi Gulf Coast to help residents protect their property. The sandbagging process was left to the residents Tropical Weather, Gulfport, USA - 26 May 2018Rogelio V. Solis—AP/REX/Shutterstock

Slowly strengthening Subtropical Storm Alberto could cause more than $1 billion in economic losses to the U.S. Gulf Coast as it tracks north, bringing a growing threat of floods, but it’s had little impact on offshore energy production.

Alberto’s top winds rose to 50 miles (80 kilometers) per hour early Sunday, up from 40 earlier, the National Hurricane Center said in a 11 a.m. New York time advisory. Winds are forecast to reach 60 mph 12 hours and it should be over land in the Florida Panhandle in 24 hours. A storm’s winds need to reach 74 mph to be called a hurricane.

Governors in Florida, Mississippi and Alabama on Saturday declared states of emergency.

“The main concern from Alberto is flooding; not so much along the immediate coast, but inland, from the heavy rains that are coming on top of over a week of rain across the southeast,” said Chuck Watson, a disaster modeler at Enki Research in Savannah, Georgia. “A secondary concern is that even relatively minimal tropical storm winds can topple trees due to saturated soils and water-heavy limbs.”

Picnics Ruined

Last week, another pulse of tropical moisture that didn’t rise to the level of a storm soaked the South.

Alberto could cause $400 million to $500 million across the South, including damage to cars crushed by toppled trees, wrecked roofs and flooding, Watson said in an interview. On top of that, there could be as much as $600 million in lost holiday spending as Alberto puts a damper on plans during the Memorial Day three-day weekend.

There’s a chance Alberto could come ashore early Monday, said Dan Pydynowski, a meteorologist with AccuWeather Inc. in State College, Pennsylvania.

Flood and flash-flood watches are spread across Mississippi, Alabama and Florida, where 4 to 7 inches (10 to 18 centimeters) of rain could fall through early next week and reach into South Carolina, North Carolina and Tennessee expected to be hit by Alberto’s remnants, the National Weather Service said.

Alberto’s moisture could push all the way to Canada in coming days, Pydynowski said.

Southwest of Tampa

“We will be dealing with the rainfall and the moisture for most of the week,” Pydynowski said. “But the winds will die down pretty quickly.”

The storm was about 130 miles west-southwest of Tampa, moving north at 14 mph, the hurricane center said.

On Friday, Exxon Mobil Corp. pulled non-essential personnel from its Lena oil production platform and Royal Dutch Shell Plc shut in its Ram Powell hub, but most other energy companies are leaving offshore crews in place while they watch 2018’s first Atlantic storm.

Chevron Corp. also shut oil production and evacuated personnel from its Blind Faith and Petronius platforms Saturday.

Alberto formed days ahead of the official start of the six-month Atlantic hurricane season on June 1. In the end, it might not be wind and disruption to energy production that the storm is best known for.

Storms in the Gulf are closely watched because 5 percent of U.S. natural gas and 17 percent of crude-oil production comes out of the region, according to the Energy Information Administration. Onshore areas along the coast also account for about 45 percent of U.S. refining capacity and 51 percent of gas processing.

About the Authors
By Bloomberg
See full bioRight Arrow Button Icon
By Wilder Davies
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Southwest ditched free bags and MGM added all-inclusive perks: how the travel industry is reinventing itself to survive
Travel & LeisureCOO Summit
Southwest ditched free bags and MGM added all-inclusive perks: how the travel industry is reinventing itself to survive
By Preston ForeJune 2, 2026
2 hours ago
Young man looks sadly at computer at home
Future of Workremote work
Mounting evidence suggests remote work is behind the Gen Z hiring nightmare. Even the New York Fed thinks so
By Tristan BoveJune 2, 2026
6 hours ago
Mark Cuban put $500K into a stranger’s rocket company over email. It’s now a SpaceX competitor worth $4 billion
Startups & VentureMark Cuban
Mark Cuban put $500K into a stranger’s rocket company over email. It’s now a SpaceX competitor worth $4 billion
By Sydney LakeJune 2, 2026
7 hours ago
Canada is asking to renew the U.S. and Mexico free-trade agreement for another 16 years
North AmericaCanada
Canada is asking to renew the U.S. and Mexico free-trade agreement for another 16 years
By The Associated Press and Rob GilliesJune 2, 2026
7 hours ago
‘This administration cooked up a sham deal’: New York sues Trump administration for refunding foreign company $1 billion to end offshore wind project
EnvironmentNew York
‘This administration cooked up a sham deal’: New York sues Trump administration for refunding foreign company $1 billion to end offshore wind project
By The Associated Press and Jennifer McDermottJune 2, 2026
9 hours ago
New jobs report shows 7.6 million job openings added in April as layoffs and people quitting their jobs both fell
EconomyU.S. jobs report
New jobs report shows 7.6 million job openings added in April as layoffs and people quitting their jobs both fell
By The Associated Press and Paul WisemanJune 2, 2026
9 hours ago

Most Popular

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
Environment
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
By Marco Quiroz-GutierrezJune 1, 2026
1 day ago
The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 
Energy
The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 
By Melissa HancockJune 1, 2026
1 day ago
Cognizant CEO is swimming against the tide on AI: he's hiring over 20,000 graduates this year and says AI tokenmaxxing is a 'vanity metric'
Conferences
Cognizant CEO is swimming against the tide on AI: he's hiring over 20,000 graduates this year and says AI tokenmaxxing is a 'vanity metric'
By Preston ForeJune 1, 2026
1 day ago
Current price of oil as of June 1, 2026
Personal Finance
Current price of oil as of June 1, 2026
By Joseph HostetlerJune 1, 2026
1 day ago
'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt
Banking
'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt
By Nick LichtenbergJune 2, 2026
14 hours ago
Current price of silver as of Monday, June 1, 2026
Personal Finance
Current price of silver as of Monday, June 1, 2026
By Joseph HostetlerJune 1, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.