A strengthening Hurricane Ida, bearing high winds and the likelihood of flooding rain as it heads for the Louisiana coast, could damage the energy-heavy Gulf Coast economy and potentially have economic consequences well beyond the region.
A new program involving local subsidies aims to help middle-income Californians afford better housing. Critics say it’s a bad use of public funds.Nearly 300 offshore platforms — or half the manned platforms in the Gulf of Mexico — were evacuated ahead of the storm, their production temporarily halted, thesaid on its website Saturday. Floating rigs also cleared out. In all, more than 80% of gulf oil and gas production halted, the agency said.
Louisiana’s 17 oil refineries account for nearly one-fifth of the nation’s refining capacity and can process about 3.4 million barrels of crude a day, according to the Energy Information Administration. Many could be vulnerable to flooding. The agency said Ida could affect local energy supplies — especially transportation fuel and electricity.
Exxon Mobil said its Baton Rouge refinery, which produces about 520,000 barrels of crude daily, continued to operate, and Chevron said it had shut down operations at terminals on the Mississippi River and Gulf Coast and their related pipeline systems. Shell, Marathon and Valero also have refineries close to the storm’s projected path.
Although refineries and petrochemical plants are generally built to withstand high winds, they are not necessarily prepared for high water, an increasing problem as global warming spurs higher rainfall amounts in big storms.
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