“Basically a third of the country more or less is going to be affected,” said Mark Anderle, director of supply and trading at TAC Energy, a fuel marketer. More Storm CoverageThe shutdowns in Texas could also impact global markets, because of the much bigger role the U.S. now plays. “Harvey is demonstrating how much more important and different both the risks and resilience of the Gulf are to the global energy system in the age of shale,” said Jason Bordoff, director of the Center on Global Energy Policy at Columbia University. As the U.S. begins exporting more liquefied natural gas in coming years, hurricanes could have an even more profound impact on global energy supplies, Mr. Morse said. Corpus Christi’s port, which handles the majority of U.S. oil exports as well as other energy shipments, is also closed to most vessels.

Source: Wall Street Journal August 31, 2017 00:05 UTC