Why Texas Deep Freeze Will Be a 'Short-Term Event' for Energy Stocks

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Parts of Texas are colder than Alaska.

Yeah, you read that right.

The Texas freeze is impacting me, personally, as I am currently living in Austin. And let me tell you, even after living in New York for nearly seven years, I was not prepared for weather under 10 degrees!

And with so many Texans without power and the freeze impacting cities from Dallas to Austin, what’s going to happen to oil?

Across the U.S., there are estimates that nearly five million people have lost power.

Motiva said it shut down the Port Arthur, Texas refinery–which is the largest oil refinery in the U.S.–due to “unprecedented” freezing conditions along the Gulf Coast.

The company said it was monitoring the weather and would resume operations “as soon as it is safe to do so,” the Associated Press reported.

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