Gas prices will likely not see major changes in Michigan even though Hurricane Harvey shut down several refineries along the Gulf Coast.
That’s according to Greg Kozera, with Shale Cresent USA, an economic development corporation.
“The United States is the number one natural gas producer and number three oil producer in the world so we have enough production. Even the natural gas that used to come from the Gulf Coast during Katrina days we’re actually sending natural gas that direction. Still, you shut down enough refineries it’ll impact you some.”
But Kozera said Harvey could have a major impact on the petrochemical industry.
“Maybe the bigger impact that most people don’t grasp is petrochemicals. 70 percent of their industrial capacity is shut down right now. Petrochemicals is everything. It’s our clothes, it’s our cellphone that we talk on, it’s our medication.
Kozera says the loss of petrochemical refineries could have wide ranging impacts.
“Petrochemicals is huge and to have that much capacity shutdown is devastating. We probably need to see a little more diversity, to spread that stuff around the country.”
Kozera says as far as gasoline is concerned prices may see an uptick of 10-15 cents, but likely not more.