The petroleum industry might be bracing itself for the impact of Hurricane gustav but its economic impact is going to be wider than that. The Washington Post reports that Louisiana's trademark tourism industry, along with sugar, shipping and even the manufacture of Tabasco sauce will be affected.

But it's not just Louisiana that will hurt. As The Wall Street Journal's Kathleen Madigan points out that it comes at a time when labor markets are weak, housing is in a recession, consumer spending is sluggish, and business investment is falling. And it has the potential to damage US exports.

"The Gulf Coast and its infrastructure may be better prepared to withstand the weather's fury." Madigan writes. "But it could be harder to protect the U.S. economy from whatever Gustav might bring."

At a time when the US economy is struggling, Gustav's timing looks very bad.