Weather Economy

Northeastern refineries shut down because of the hurricane, but Sandy also shut down traffic across the region, saving far more gas than those refineries produce.

As Hurricane Sandy makes it's way up the East Coast of the United States, damage estimates of $10 to $20 billion are beginning to trickle in.

In the teeth of a not-so-perfect storm savaging the East Coast, the freer the flow of digital news, the better. The New York Times and the Wall Street Journal have temporarily taken down their paywalls.

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As the hurricane-turned-superstorm Sandy heads for densely populated and economically vibrant regions. Its costs could spread to housing, consumer spending and jobs.

While many workers were sent home ahead of the storm, not everyone gets the day off for Hurricane Sandy.

The power grid is too large, too dependent on distant electricity supplies and not smart enough to pass the hurricane test. The result: long power outages. Upgrading to a more reliable grid will cost billions and take decades.

Weather derivatives allow companies to hedge against catastrophic losses.

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Overnight, New York City's financial authorities decided to close the markets today as Hurricane Sandy moves in -- the first time since 1985 that a weather event has shut down trading.