Fearsome Rita Nearly a Cat 5 Now: Ready to Pounce

Update Rita is a Category 5 now.

"We are watching a monster," CNN is reporting right now. Nearly a Category 5 Hurricane it may reach winds of 184 miles per hour shortly.

In its path: off shore oil rigs, refineries, pipelines, some closing down in anticipation. Prices expected to soon rise at the pump.

Then as evacuation plans move forward in the Gulf, are those that are tensely waiting. Waiting for the fury, that will be unleashed. Then moving in to help.

Galveston is an island, protected by levees, Rita has it sights set and aiming intently on landfall. It will be Saturday morning before we know exactly where Rita will hit. There is no doubt that it will.

CNN is reporting that the cost of Katrinia will out pace the cost to rebuild Europe after WW I. Rita has designs that will add to that cost considerably.

FEMA is saying they are prestaging, in a press release happening now. FEMA is asking the residents of the Gulf to be prepared, and telling them how. FEMA ended the briefing by saying "This is not going to be fun, and no matter how many assets we have in place, it may not be enough."

Rita is huge nearly filling the entire Gulf.

Source: CNN live broadcast