There were widespread warnings that power would be cut to many homes and businesses, meaning that even after the mega-storm passes on Wednesday, many people would possibly still be unable to go back to work.
Hurricane Sandy was packing maximum sustained winds of nearly 90 miles (150 kilometers) per hour Monday as it headed for the US East Coast, where it was to collide with another huge front.
Storm surges were already causing flooding along the coast, with more flooding expected.
Worries that fuel could be in short supply because of the shutdown of several oil refineries along the coast were downplayed, mainly because consumption was also sharply lower as drivers stayed home.
“Gas availability could be affected more from the threats of flooding,” said Stephen Rajczyk of the northern New Jersey branch of the motorists’ organization AAA.
But, he added, “Prices should not be impacted by this due to less driving, businesses and schools closed, less economic activity in general.”
Some played down the broader impact of the storm on the economy, saying that building, trading and shopping would resume in a burst after the storm.
“Wealth destruction is bad, and Hurricane Sandy could destroy billions in national wealth,” said Jason Schenker of Prestige Economics.
“Nevertheless, while hurricanes and other natural disasters are extremely negative for wealth, they are usually positive for growth.”
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