In 2005,Hurricane Katrina destroyed oil and natural gas refining capacity in the Gulf of Mexico.This subsequently drove up natural gas,gasoline,and heating oil prices.As a result,this should

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The destruction of oil and natural gas refining capacity would decrease the availability of these resources, causing an increase in their prices. This would increase production costs for firms and decrease their willingness to supply goods and services at any given price level, which would shift the short-run aggregate supply curve to the left.

In 2005,Hurricane Katrina Destroyed Oil and Natural Gas Refining Capacity