HOUSTON - The U.S. energy industry began preparing for a major hurricane strike by Tuesday, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining at plants along the Texas/Louisiana coast.
The intensification will bring at least a 10-foot storm surge to the upper Texas coast and could produce a devastating category 4 hurricane, said Chris Kerr, a meteorologist at agriculture, energy and weather data provider DTN. Refiners that produce gasoline and diesel fuel were taking steps to halt eight coastal facilities with nearly 2.78 million bpd of processing, 14.6% of the U.S. total capacity, according to Reuters tallies.
Officials in several Texas and Louisiana communities called for mandatory evacuations affecting hundreds of thousands of residents. Texas called people from areas of Houston to Orange to flee the area and set up inland shelters.
Perhaps it's a sign lol
Alternative headline: “Big Oil, gasping for air as their influence wanes, desperately hope hurricane helps with pricing”.
Excellent
Oh stfu about oil... a mouse can blow a fart towards a pipeline and oil prices MUST skyrocket! It’s all fucking racket. crooks
BETTER BUY PUTS
HOTCHOUT