Attack on U.S. oil refineries
Probability: High
Impact: High
Four terrorists driving minivans approach four oil refineries: The Royal Dutch Shell installation at Port Arthur, Texas; the Valero Energy refinery at Corpus Christi, Texas; the Chalmette refinery east of New Orleans; and the Chevron refinery at Pascagoula, Miss. They crash through the gates and aim for the key catalytic units used to refine petroleum. The crashes set off more than 500 pounds of dynamite in each van. Eleven workers die in the initial attacks and six more perish in the infernos that send plumes of dark smoke miles into the sky. Even before the flames can be extinguished, the price of oil skyrockets to more than $200 a barrel. The president declares a state of emergency and dispatches National Guard units to protect key infrastructure.
Casualties: 17 dead, 34 wounded.
Consequences: In a single day, America loses 15 percent of its crude-oil processing capability for more than a year. The Federal Reserve slashes the prime rate by a full point in a desperate attempt to avert a recession, as gas prices balloon. Critics bemoan the fact that, for decades, the United States neglected development of its “dirty” oil-processing infrastructure -- and now it's too late. Total economic cost: $1.2 trillion.