Havey keeping refineries at bay. Your going to be paying more in the coming weeks for gas because the towel heads of OPEC are getting ready to cut production again. Nothing from trump on any of that.
Hurricane Harvey packed such a powerful punch that more than a dozen Gulf Coast oil refineries are still hurting two weeks after the storm struck Texas.
Five oil refineries remain shuttered as of Monday, according to S&P Global Platts, an energy research firm. Ten more are partially shut down as they attempt to recover from historic flooding.
All told, about 2.4 million barrels of daily refining capacity in Texas is offline because of Harvey, Platts estimates. That is about 13% of the country's total ability to turn oil into gasoline, jet fuel and other products.
It's pretty massive," said Jake Eubank, manager of refining and processing at the research firm Genscape. Harvey dealt a serious blow to America's energy infrastructure, knocking oil rigs offline, disrupting shale oil drilling inland and closing key ports. But the biggest hit was to refiners. At one point, about 4 million barrels of refining capacity was shut down. Gasoline prices spiked around the United States.