U.S. gasoline futures surge after Harvey

[bronxiteforever]

Reuters article tonite-
“This is not like anything we have ever seen before,” said Bruce Jefferis, chief executive of Aon Energy, a risk consulting practice, adding it was still too early to gauge the full extent of damage to the region’s energy infrastructure.

U.S. economic growth was more than halved in the quarter after Hurricane Katrina mauled Louisiana in August, 2005, but quickly bounced back by early 2006 as reconstruction began and gasoline prices moderated.

https://www.reuters.com/article/us-global-markets-idUSKCN1B70YH

Economically this seems worse than Katrina because of the oil impact and this is our 4th largest city. Possible Trump Slump coming?

[Dustlawyer]

1. I just went in one of the biggest refineries in the world last week and discussed the coming

hurricane. I was told they had been drilling regularly since Rita and Ike. They do have the infrastructure to pump away a lot of water and the majority of them are still running at full capacity. The floods will slow them down because of personnel issues, but only for a couple of weeks.

[Igel]

3. That's my take.

Quick drainage. No wind damage, no storm surge. Just fresh water.

Personnel, but also transportation--who knows what's happened to a lot of the RR grades.

[roamer65]

2. Not too worried, here.

New car that gets an avg 34 mpg...

[democratisphere]

4. Opportunistic vultures are circling.