Harvey Sends Gasoline Surging as Texas Refineries Shut Down

25 Aug 2017   Climate, Oil Supply

Exxon, Anadarko, Shell among energy explorers cutting output Would be first major hurricane to hit U.S. since Wilma Hurricane Harvey, set to become the worst storm to strike Texas in more than a decade, wreaking havoc upon the heart of America’s energy sector, has forced evacuations from offshore platforms, shut refineries and sent the prices of commodities from gasoline to soybeans rallying. Oil refiners in the Gulf Coast, home to as much as half of the nation’s refining capacity, began halting operations as Harvey, a Category 1 storm with top winds of 85 miles (137 kilometers) an hour, bore down on the Gulf Coast, threatening the region with deadly floods and storm surges. If Harvey makes landfall as a Category 3 — with winds of at least 111 miles — it’ll be the strongest storm to hit the U.S. since Wilma in 2005. “We are expecting catastrophic, life-threatening flooding […]

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