(Bloomberg) Around the world, people are already living through the havoc brought on by global temperatures that are breaking records. It’s about to get a lot worse. Most Read from BloombergWorld’s Largest Nuclear Plant Sits Idle While Energy Needs Soar‘Not Gonna Be Pretty:’ Covid-Era Homebuyers Face Huge Rate JumpWarning Signals Are Flashing for Homeowners in Texas and FloridaInsurers Sink as UnitedHealth Sees ‘Disturbance’ in MedicaidAmerican Air Fired Commercial Head After Sales Strategy A
It may not be quite throwing caution to the winds, but the prospect of hefty profits and supply that may not stretch to meet consumer demand is enticing U.S. refiners to run at a 21-month high, testing equipment limits to sustain high rates without breakdowns.
The 30-minute fire at LyondellBasell Industries NV’s Houston refinery Tuesday underscored just how quickly U.S. gasoline production can fall at a time when the country is experiencing record-high prices at the pump.