Writing on CNBC.com, Jason Bordoff discusses the five lessons US energy markets must learn from Hurricane Harvey's devastation.
As Houston and other Texas communities begin taking stock of the deadly devastation left by Harvey, the storm's impacts on the energy sector are being felt far and wide—in ways not seen before, reflecting how dramatically the U.S. energy landscape has changed in the last decade.
The U.S. Gulf Coast energy hub is no stranger to extreme weather. In 2005, Hurricanes Katrina and Rita ravaged the region's refining capacity, production and pipeline operations. The industry learned critical lessons about resilience from the deadly storms, but the years since have seen massive changes to the sector that have altered the U.S. economy, the nation's energy outlook and global markets. It has also brought new risks to all three, some of which are only now being realized.
You can contiute to read the full op-ed here: https://www.cnbc.com/2017/09/01/after-harvey-5-lessons-us-energy-markets-must-learn-commentary.html