Industry loses more in flooded Midwest than it gains on sweltering East Coast. (petroleum industry)

The Oil Daily | July 14, 1993| | Copyright

WASHINGTON -- The flood of the century in the Upper Mississippi Valley in the Midwest has closed two main transportation arteries and all but washed out diesel and gasoline sales in what would normally be the peak season for downstream operating companies.

The lost product sales, coupled with higher operating costs as a result of the flooding, may prove a financial washout for a number of companies, especially given that most sectors of the oil industry, including retail outlets, are not eligible for disaster relief from the federal government.

While oil ...

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