The U.S. energy industry on Tuesday was preparing for a major hurricane strike, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining at plants along the Texas-Louisiana coast. Officials in the two states ordered hundreds of thousands of coastal residents to flee inland as Hurricane Laura strengthened and forecasters predicted it would become a major hurricane with sustained, 115 mile per hour (185 kph) winds. At least a 10-foot (3-meter) storm surge will likely hit the upper Texas coast later this week, said Chris Kerr, a meteorologist at agriculture, …read more
Source:: Yahoo Finance
