Media agency executives expressed concern today that the impact of Hurricanes Katrina and Rita on oil prices could force some advertisers to cut or consider cutting their marketing budgets in the
coming months. In the wake of Katrina, which devastated New Orleans and environs three weeks ago, oil prices shot up, boosting the price of a gallon of gasoline above $3 per gallon. The current belief
is that Rita, now in the Gulf of Mexico and bearing down on the Texas coast, will wreak further havoc on oil production, forcing prices even higher.
Read the whole story at Adweek.com, September 22, 2005 »
