Harvey Makes Landfall Again Shutting Down More Refineries

The video discusses the sharp increase in gasoline prices due to market expectations of a tightening supply, particularly in the New York area. This is attributed to the impact of Hurricane Harvey, which has caused significant flooding and refinery shutdowns in Texas and Louisiana. The video highlights the importance of refining capacity in these regions and the ongoing challenges faced by refineries near New Orleans and Houston.

What does the sharp spike in gasoline prices for October and November indicate?

• A decrease in gasoline demand

• An increase in gasoline supply

• A tightening of the gasoline market

• A stabilization of gasoline prices

Why is the East Coast of the United States particularly affected by the gasoline market tightening?

• It relies on gasoline imports from Europe

• It has its own sufficient refining capacity

• It depends on refineries in Texas and Louisiana

• It is unaffected by Hurricane Harvey

Which natural disaster is causing refineries in Texas and Louisiana to shut down?

• Wildfire

• Tornado

• Earthquake

• Hurricane Harvey

What is the significance of the border area between Texas and Louisiana in the context of refining capacity?

• It only imports gasoline

• It is unaffected by natural disasters

• It is a major refining hub

• It has no refining capacity

Which city near the Texas-Louisiana border is mentioned as having significant refining capacity?

• Dallas

• New Orleans

• Austin

• San Antonio