This year’s hurricane season is shaping up to be a busy one, with nine named storms already.
That will likely have an impact on the global energy industry, says Matt Smith of ClipperData.
In Texas, Hurricane Hanna hit the southern part of the state just over a week ago. Smith told Texas Standard host David Brown on Monday that the storm didn’t affect energy production or oil exporting even though it made landfall near Corpus Christi – what Smith called “the largest exporting hub of the U.S.”
“It could have been extremely impactful because they export about up to 2 million barrels a day out of Corpus,” Smith said. “As the U.S. becomes more of an exporter, this becomes a bigger threat to some of those exporting hubs.”
What you’ll hear in this segment:
– How tropical storms affect the energy industry on the U.S. Gulf Coast
– What effect Gulf storms have on gasoline and natural gas prices
Web story by Caroline Covington.