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There appears to be little doubt that Hurricane Rita will be a major catastrophic storm as it heads for the Texas coast, possibly whacking the energy industry again and heaping anxiety on an already concerned insurance market.

State officials have mandated evacuations from coastal cities in the region, and Texas Gov. Rick Perry has already declared a state of emergency. He has ordered the Texas National Guard to return from relief efforts in Louisiana and requested that federal troops to be available in the aftermath of the storm.

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