As the waters subside in Texas from hurricane Harvey, the country finds itself in the state of shock. Recovery from the devastating hurricane will affect every American, if not directly, through the incredible financial relief that the country will bear. Estimates are that the cost of repairing the devastation left behind will exceed $190 billion.
At least 47 people lost their lives in the flooding.
The area from Corpus Christi to Lake Charles, La., now represents nearly half of the country’s refining capacity. The Motiva facility is the largest refinery in the country. Under normal conditions, the facility processes more than 600,000 barrels of crude oil a day. Shutting down of Motiva and Exxon Mobil’s discovery of damage at its Baytown facility, which is the nation’s second largest refinery, created an immediate panic about the availability of gas.
Dallas experienced total panic for the last two days. There were signs of panic buying at gas stations , potentially leading to a self-fulfilling prophecy of shortages. Texas Gov. Greg Abbott advised people, “We will not run out.” Yet people still sat in lines to buy gas that lasted longer than one hour.
Around 10% of manned oil platforms in the Gulf of Mexico were evacuated. While the fallout is still being determined, gas prices have risen and oil and gas rig production has continued to be hampered.
In the midst of this disaster, Peggy Noonan of the WSJ featured an article that everyone should read. It is the recognition that Americans will “hold the line” while politicians in our country seem to have forgotten what it is about America that make us great.