Experts say a major incident that left four injured at a Baytown oil refinery could impact the gas economy. A fire began around 1 am Thursday at the Baytown ExxonMobil refinery that is suspected of stemming from an explosion. The extent of damage is not yet clear. This refinery is one of the largest in Texas and the fourth biggest in America. This raises concern among experts who predict gas prices to rise as the refinery recovers.
Four people were confirmed to be injured but in stable condition, says manager Rohan Davis. Three people were reportedly transported to the hospital via an emergency medical helicopter.
Multiple people near the refinery took to social media Thursday, saying they heard something resembling an explosion, which rocked the ground. Harris County Sheriff Ed Gonzalez stated that an early incident report shows that an explosion inside the plant is a possibility. One resident told NBC that “I was just laying in bed and then all of a sudden I felt, like, a wave.”
Firefighters were able to extinguish the majority of the blaze by Thursday morning. However, smoke still poured out of the refinery for hours afterward. As of now, officials on scene state there is no issue involving air quality in the surrounding area.
The ExxonMobil refinery states that it is capable of processing up to 584,000 barrels of crude oil each day. Daniel Armbruster, with AAA Texas, states that concerns about a new wave of Omicron has been steadily lowering gas prices. Conversely, the incident involving the ExxonMobil facility could impact those prices.
“Certainly, if it takes some time to get that facility back up and running, it could have an impact on supplies in the state and regionally, and that could impact gas prices,” he stated.
Tom Kloza, a chief analyst for the Oil Price Information Service, says he would not be surprised if the accident causes the price to break $4 a gallon nationwide. “They’re not going to have all systems go for a couple of quarters,” Kloza remarked.
