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Harvey’s Toll on Energy Industry Shows a Texas Vulnerability

2017-08-31 1 Dailymotion

Harvey’s Toll on Energy Industry Shows a Texas Vulnerability<br />The damage, detailed in state and federal regulatory filings, is wide ranging: escaping gasoline from a submerged roof at a Phillips 66 storage tank; a sinking tank roof at Exxon Mobil’s vast refinery in Baytown, which resulted in the release of hazardous gases including volatile organic compounds and benzene, above permitted levels; and a lightning strike<br />that disrupted operations and led to toxic-gas releases at a Dow Chemical plant in Freeport.<br />The environmental fallout could worsen, and if oil<br />and natural gas prices spike because refineries and pipelines are crippled, renewable energy sources like wind and solar power, along with electric cars, could get a major lift.<br />At least seven major refineries are out of commission, and Morningstar on Tuesday estimated<br />that 11 more refineries, with a combined capacity to produce 1.3 million barrels per day, risked closing, including the Saudi Aramco-Motiva refinery in Port Arthur, Tex., the nation’s largest.

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