Dividend logo

With all the devastation currently going on in Houston, it’s hard to find any sort of silver lining to Hurricane Harvey. The storm is currently one of the worst on record and has already caused billions of dollars’ worth of damage in its wake. Texas and the Gulf Coast have been utterly crippled by the storm.

Also being crippled has been the nation’s refining infrastructure.

The vast bulk of the country’s crackers, refineries and other facilities for turning crude oil and gasoline lie on the coast of Texas and Louisiana. And as a result, Harvey and its relentless nature have put the sector in a major bind. But for dividend seekers, this temporary setback could be the entry point they are looking for.

Read here to know if there is an opportunity in oil.

Ten Refineries Hit

It’s not a coincidence that the bulk of America’s refining infrastructure sits on the Gulf Coast. Conveniently located near major areas of production, shipping ports and major pipeline terminals, the Gulf Coast is the perfect place to process crude oil and natural gas. The Energy Information Administration pegs that has over 45% of total U.S. petroleum refining capacity and 51% of total U.S. natural gas processing plant capacity is located along the Gulf Coast.

To read the Full Story, Go Premium or Log In

Popular Articles

Premium Photodune 514786 stock market diagram xs 300x212
News

The Wrap for February 22: Toned Down Trade Boosts Market

Despite being a shortened week – thanks to the President’s Day holiday – there was plenty of...

Premium Slowing%20earnings%20growth
News

Earnings Aren’t as Good as We Hoped

Given all the volatility that’s hit the market over the last few quarters, the last thing...

Premium Data%20center
News

Technology Giant With Strong Cash Flows Maintains Position on Best Dividend Stocks List

The technology sector is known for its fast growth, disruption and game-changing abilities. The...