The power outages have spread to restaurants and supermarkets throughout the Southwest, with some people facing long lines at grocery stores and gas stations alongside a lack of bottled water and frozen food.
Oregon, Mississippi and Louisiana each reported around 100,000 people without power, while Kentucky, Alabama, North Carolina, Virginia, West Virginia and Ohio are reporting smaller outages.
In Houston, Dallas, San Antonio and other cities, social workers fanned out to search for homeless people amid the extreme cold temperatures.
Some Texas owners of Ford’s new hybrid F-150 pickup are using the vehicle’s PowerBoost onboard generator to power and heat their homes, in line with the car maker’s claim that the truck is like a “mobile generator.” Ford urged its dealers in the state to loan out F-150s with generators to help with the crisis.
Terminals and truck offices remained closed at the Port of Houston this morning.
The inclement weather continues to disrupt operations at many of our logistics sites in affected areas.
BASF, Braskem, Celanese, Chevron, DuPont and Sabic have been added to the list of companies reporting production disruptions or declaring force majeures due to the weather event:
BASF declared force majeure on nylon products and intermediates made at its Freeport, Texas, plant and on Ultraform® POM Q600 grades.
Braskem declared force majeure on polypropylene products.
Celanese declared force majeure on a broad list of products.
Chevron Phillips declared force majeure on polyethylene products.
Covestro announced that the winter storm has curtailed production at its Texas operations, forcing a reassessment of allocations and extension of lead times.
DuPont declared a global force majeure on Zytel® (including Zytel® HTN and Zytel® Specialty Nylons), Crastin®, Rynite®, Selar®, Minlon® and Pipelon®.
Flint Hills declared force majeure on polypropylene products due to the storm.
ExxonMobil said it is allocating polypropylene products.
Formosa Plastics Corporation USA declared force majeure on PP, PE and upstream products from its Point Comfort, Texas, plant.
INEOS declared force majeure on polypropylene products due to the storm.
Invista declared force majeure on U.S. supply of PA66 intermediate chemicals.
LyondellBasell declared force majeure on polyethylene and polypropylene products due to the storm.
LyondellBasell announced a partial lifting of force majeure, affecting Line 5 at its Morris, Illinois, facility and LD1, LD2 and PF4 at its Clinton, Iowa, facility.
Occidental, the second largest producer in the Permian Basin, declared force majeure on oil deliveries.
OxyChem declared force majeure on U.S.-based PVC products.
Sabic declared force majeure on LEXAN™ resins, CYCOLOY™ resins, XENOY™ resins, GELOY™ XP series resins, VALOX™ FR resins and XYLEX™ resins, as well as ABS product from its Tampico, Mexico, plant.
Total declared force majeure on polypropylene products made at its La Porte, Texas, facility.
Oil prices dipped yesterday on concerns that refineries along the Gulf Coast could remain down for another week. Crude futures fell further in early trading today, with the WTI down 1.6% at $59.60/bbl and Brent down 1.1% at $63.29/bbl. Natural gas was up 0.3% at $3.09/MMBtu.
Mexico’s government is readying over $5 billion in investment and tax breaks for state oil company Pemex, currently the world’s most indebted oil company.
Iraq, OPEC’s second-largest producer, boosted crude oil exports by 4.4% to 3.44 million bpd in the first two weeks of February, despite the nation’s pledge to restrain production to comply with OPEC+’s production cuts.
We expect continuing logistics disruption in the U.S. from severe winter conditions blanketing much of the country.
Logistics conditions remain strained, with trucking demand exceeding availability and continued congestion at ports due in part to operating challenges related to the pandemic. Clients are advised to provide expanded lead times on orders to help ensure delivery dates.
There were 69,228 new COVID-19 cases reported in the U.S. yesterday and 2,558 fatalities.
U.S. business leaders expect to cut fewer jobs or raise employees pay in coming months as confidence in the nation’s economic outlook heightens.
Walmart is raising wages for nearly half a million employees, which will increase pay for its hourly U.S. workers to an average above $15 an hour.
Gucci’s fourth-quarter revenues dropped 14% from the same time a year ago, exposing the luxury brand’s reliance on tourist shoppers at boutique stores that have largely been shut down due to lockdowns.
Hilton reported an unexpected loss in the fourth quarter as the toll of lockdowns mounted for the travel and leisure industry.
Streaming technology firm Roku reported a 58% increase in revenue during the holiday quarter as customers ramped up entertainment consumption at home.
According to the U.S. Federal Reserve Governor, Lael Brainerd, the U.S.’s financial system is being affected by climate change, evidenced by higher incidence of extreme weather events such as droughts, wildfires, hurricanes and heat waves in the past year.
COVID-19 fatalities in Africa surpassed 100,000 as the continent confronts a rapid spread of the virulent South African strain of the virus amidst a shortage of medical supplies.
COVID-19 case numbers in Germany are stagnating, signaling the lockdown that began in December is working. Concerns are growing about an outbreak of the virulent U.K. strain of the virus along Germany’s northern border.
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We will provide further COVID-19 bulletins as circumstances dictate. For all COVID-19 updates and notices, please refer to the M. Holland website.