We are all following the terrifying news coming from the devastation that hurricane Harvey is causing in Texas. Our thoughts and prays are with the people of Texas, the fire workers, charity workers and army helping day and night to minimise the damage and save lives.
Apart from all the human drama that this event causes with already some nine lives lost, thousands of houses submerged in water and people dislocated, cars totally ruined due to the water, damaged roads and bridges, 230,000 people are still without power as the power supply network is down, business ruined, more than 960 flights were cancelled as of midday local time, according to Flight Aware and we all follow the events with sympathy but how it influences us around the world.
The news agencies are reporting that key oil and gas facilities along the Texas Gulf Coast have temporarily shut down. Texas produces some 3% of the oil globally and refines 6% of crude and normal oil of the world, virtually assuring gasoline prices will rise in the storm’s aftermath.
Therefore there is an increasing need for diversifying the production of oil and furthermore for the refineries in Albania and in other countries to be fully operational in order to make up for the underproduction at times of tragedy like the one of hurricane Harvey.