Rita as Bad as Katrina?

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Colorado State University's Dr. William Gray is predicting that Hurricane Rita could end up as the next-to-worst storm in the country's history, second only to Hurricane Katrina.

Rita intensified Wednesday morning to a Category Four storm, just one level below the most powerful hurricane rating.

The storm is packing winds of 135 miles-per-hour, and mandatory evacuations are under way for New Orleans, and Galveston, Texas. Landfall is expected Saturday somewhere between northern Mexico and western Louisiana.

Gray says Rita could do even more damage to oil production than Katrina did a few weeks ago, and that Rita is probably notthe last major hurricane of the season.