By: Economic & Finance Report
Texas oil refineries began production of oil again Saturday Sept 3, 2017. This is after a rocky and unstable week presented to the Texas and Louisiana region from the turbulent hurricane called Harvey. Hurricane Harvey being categorized as a Category 4 hurricane, ruined and destroyed billions and billions of dollars of infrastructure and property (residential and commercial); and distablized the southern gulf region.
The federal government has indicated that close to $200 billion will be needed to infuse in the economies; of Texas and Louisiana especially to jump start business initiatives and future business development projects in the region.
Alot of the Texas refineries had to drastically cut production because of the damage Harvey propelled. More then half of the oil refineries in the US is in the Gulf, so when Harvey hit the region, it really made a impact to oil production.
As the refineries begin to resume their productivity, many people and businesses will have to find ways to pick up and resume their lives, from the turmoil this horrible hurricane has inflicted on them. -SB