Report: Texas to lose billions if new major storm hits coast
HOUSTON (AP) - A new study says housing sales in Texas would decline, gasoline prices would spike and the state's economic output would drop by hundreds of billions of dollars if another major storm struck an unprotected coastline.
The joint economic impact study by Texas A&M University at Galveston and the Texas General Land Office evaluated storm surge impacts on the three counties along Galveston Bay - Galveston, Harris and Chambers. The Houston Chronicle reports that it also examined how flooding from a major storm would affect local and national economies.
Hurricane Harvey swamped the area in August 2017, making landfall near Corpus Christi with 130 mph (209 kph) sustained winds and torrential rains.
The study was conducted before the Army Corps of Engineers' proposed a 74-mile barrier proposal in October to avert future hurricanes.
Information from: Houston Chronicle, http://www.houstonchronicle.com
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