A new report from the International Energy Agency (IEA) argues that the effects of Hurricane Harvey shutting down the Texas oil refining industry for several weeks “could soon all but evaporate the world's glut of gasoline and other fuels,” according to the Houston Chronicle. The Paris-based agency said the hurricane episode shows how important the Gulf Coast has become to global markets as a trading center that exports 4 million barrels of petroleum products a day. "The rise of the Gulf Coast as a major energy hub means that, in some respects, it can be compared to the Strait of Hormuz in that normal operations are too important to fail."

 

http://www.shaleohio.com/post/detail/hurricanes-impact-shows-importance-of-us-gulf-as-energy-hub-233884

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