“The economic impacts depend on how extensive the damage is to the economic activity in the city. As of Monday, Texas’ refining capacity was down nearly 2.2 million barrels per day due to the storm, according to S&P Global Platts. Major ports in Corpus Christi and Houston were closed to vessel traffic, which was expected to delay imports and exports of crude and refined products, S&P Global Platts said. Refiners had not reported any damage, according to S&P Global Platts. In 2015, Houston’s real GDP was $471 billion, measured in 2009 dollars, while the U.S. real GDP for that same year was $14.5 trillion, Kleinhenz said.

Source: Los Angeles Times August 29, 2017 01:18 UTC