TEXT OF STORY
SCOTT JAGOW: Another hurricane season starts tomorrow. Will the oil and gas industry be ready? Marketplace’s Hillary Wicai looked into it.
HILLARY WICAI: The American Petroleum Institute says the US will be able to import enough gasoline to offset any disruptions Mother Nature might throw at us this hurricane season.
Gas prices soared last year as hurricanes Katrina and Rita knocked out refineries and disrupted pipelines. The API says imports are currently flowing in at record levels and consumers have also reduced their demand slightly.
Spokeswoman Karen Matusic says as of last month three refineries still had not returned to full capacity. But that, she says is about to change.
KAREN MATUSIC:“All the refineries that were affected since the hurricane are either in the process of going back to absolutely pre-hurricane levels or already are.”
Hurricane season officially begins tomorrow.
In Washington, I’m Hillary Wicai for Marketplace.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
Give today and get our limited edition tote.