Barry may cause gas prices to spike


Gas prices can see a storm surge if Barry sticks to predictions.

The states bordering the Gulf of Mexico hold more than 45 percent of the country's total refining capacity, along with 51 percent of the total natural gas processing capacity of the US. UU

Energy companies closed and evacuated their platforms in the northern part of the Gulf before the storm, Reuters reported. And while it was expected that most of the refineries would remain in operation while Barry hit the area, heavy rains forecast to soak the region until Sunday could wreak havoc.

It is forecast that much of Louisiana will have 20 or more inches of rain this weekend, with a forecast of up to 2 inches per hour for some areas. Coastal areas also expect a storm surge of up to 6 feet.

"Just look at what happened to Washington, DC, on Monday," Dr. Philip K. Verleger, owner and president of energy and commodity markets consultancy PKVerleger LLC, told AccuWeather. "If it rains too much, the ground gives way. If the soil yields under a pipe, it has a leak and it has to close the pipe. "

Refined products shipped from the Gulf Coast through pipelines are crucial for the East Coast. If the refineries or the Colonial Pipeline complex that runs from Houston to the port of New York are closed, that could cause supply problems and prices could start to rise.

Source link

Check Also

Forget catwalks — locked fashion models to try homemade photo sessions with mom and dad behind the camera

Some of the world’s largest fashion brands are asking for locked models to shoot their …