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Trump’s Time ECONOMY 17
Entergy Corp, the largest power the outages could push retail
utility in Louisiana, warned there gasoline prices up 5 to15 cents
was “catastrophic” damage to per gallon until processing
transmission lines. returns to normal.
One tower that provides power Colonial Pipeline Co, the largest
collapsed at the height of the U.S. fuel pipeline network, said in
storm and its power lines fell into the Reuters report that it hopes to
the Mississippi River, the utility start pumping gasoline and
said. diesel on closed lines from
Houston to Greensboro, North
Exxon Mobil Corp halted Carolina, on Monday evening.
operations at its 520,000 barrel The network supplies almost half
per day (bpd) Baton Rouge oil the gasoline consumed along the
processing and chemical U.S. East Coast.
complex due to lack of power and
raw materials, a spokesperson Reuters reported that oil
said. c o m p a n i e s h a v e b e g u n
surveying offshore platforms for
Phillips 66 will conduct a post- damages.
storm assessment at a refinery in
a hard-hit area of Louisiana ”It will take some days to get a
“when it is safe to do so,” said clear picture of possible impact,”
spokesman Bernardo Fallas. O l a M o r t e n A a n e s t a d , a
spokesperson for Equinor ASA,
“You can't simply flip the switch” which evacuated its Titan
and resume production of a platform and halted Gulf
refinery, Robert Yawger, director production, said.
of energy futures at Mizuho
Securities, said. He added that “ T h e c l o s u r e s i n c l u d e d
restarts are complicated and Louisiana Offshore Oil Port
dangerous. (LOOP), the largest privately
owned crude export and import
“My observation is two to four terminal in the United States,”
weeks,” Yawger said. Reuters reported.
The tracking firm GasBuddy said
