Sandy could spell serious oil disaster - FOX 26 News | MyFoxHouston

Sandy could spell serious oil disaster

Posted: Updated:

We wanted to understand how Sandy will impact the nation's energy supply, so we went to the experts.

Owners of the six biggest refineries in the northeast shut down or scaled back production because of Sandy.  There is no word on when those refineries will reopen.

Former Shell Oil CEO John Hofmeister told FOX 26 if the storm damages the refineries, we are in trouble.

Monday, oil prices fell about one percent today as it appeared the massive storm would reduce demand, but Hofmeister said that could quickly change.

According to AAA, gas prices fell a half-penny from Sunday to a national average of $3.45 a gallon.

Powered by WorldNow

4261 Southwest Freeway
Houston, TX 77027

Phone: (713) 479-2801
Fax: (713) 479-2859

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices