U.S. Oil Inventories Set To Spike After Hurricane Harvey

5 Sep 2017   Oil Supply

The people along the coast of Texas are trying to assess the implications of the toxic stew that Hurricane Harvey unleashed, with exploding chemical plants and flooded superfund sites threatening long-term environmental damage to the region. The extraordinary concentration of oil and gas facilities along the coast of Texas has long been trumpeted as an economic and energy security advantage, but in many ways, it exposes the region’s – and the country’s – dependence on fossil fuels as well as its very real vulnerability to powerful storms. Still, Texas’ refiners are trying to get back online as quick as possible, and some have already restarted operations. As of Sunday, September 3, a combined 2.3 million barrels per day (mb/d) of refining capacity remained offline, according to S&P Global Platts, a significant improvement from the peak outages that exceeded 4 mb/d at the end of last week. The Corpus Christi […]

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