Gadfly: Hurricanes Katrina, Rita and Harvey Tell Shale’s Story

29 Aug 2017   Shale Oil

Hurricane Harvey has struck at a time when energy markets appear indifferent to all sorts of traditional stimuli. (This column does not necessarily reflect the opinion of Bloomberg LP and its owners. The views expressed are his own) (Bloomberg Gadfly) — The shocking images of Houston’s freeways transformed into waterways by the deluge of Hurricane Harvey call to mind similar footage of the floods unleashed on the Gulf coast by Hurricanes Katrina and Rita 12 years ago. Along with everyone else there, the energy industry tied so closely to this region was hit hard, both then and now. Yet, while the full extent of the latest damage is still to be determined as the disaster is ongoing, it may be that the hurricane seasons of 2005 and 2017 will come to be seen as bookends on a transformation in the U.S. energy business. Even as they grapple with more […]

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