From New York to Houston, flood risk for real estate hubs ramps up

By Kate Duguid and Ally Levine

NEW YORK (Reuters) – The number of properties in the United States in danger of flooding this year is 70% higher than government data estimates, research released on Monday shows, with at-risk hot spots in Houston, New York, Los Angeles and Chicago.

The higher risk identified could have implications for property values as well as insurance rates, municipal bonds and mortgage-backed securities, according to investors and researchers at First Street Foundation, which released the data. (http://www.floodfactor.com)

“This could change the calculus on whether a given property is resalable, or what price you sell it at,” said Tom Graff, head of fixed income at Brown Advisory.

The data, which covers the contiguous United States, found that around 14.6 million properties, or 10.3%, are at a substantial risk of flooding this year versus the 8.7 million mapped by the Federal Emergency Management Agency (FEMA).

FEMA maps are currently used to determine rates on government flood insurance and underpin risk assessments done by mortgage lenders, investors and home buyers. The maps, however, only account for coastal flooding – not rain or rivers – and do not incorporate the ways climate change has made storms worse.

A FEMA spokesperson said that First Street’s maps build on those created by the agency and the two are not incompatible.

Los Angeles, Chicago, Houston, New York and Cape Coral, Florida top First Street’s list of cities with the most number of properties at risk. At the state level, Florida, Texas, California, New York and Pennsylvania have the most to lose. Florida and Texas also top FEMA’s list, but with significantly fewer properties estimated to be at risk.

Washington, D.C., has the greatest deviation from FEMA’s numbers, 438.4% more properties at risk, because First Street accounts for potential flooding from the Potomac and Anacostia rivers and a drainage basin under the city. Utah, Wyoming, Montana and Idaho have the next highest deviations, all between three to four times greater than FEMA estimates.

Commercial mortgage-backed securities (CMBS), investments that pool loans for office buildings, hotels, shopping centers and more, are among the securities most exposed to flood risk because of the concentration of cities on the U.S. coasts.

“There is a moral hazard within the investment community of not pricing in the risk of something like this happening,” said Scott Burg, chief investment officer at hedge fund Deer Park Road.

Nearly 20% of all U.S. commercial real estate value is located in Houston, Miami and New York, according to CoStar data, each of which has been hit by hurricanes in the last decade.

Hurricane Harvey, which slammed Houston in 2017 and caused $131 billion damage, affected over 1,300 CMBS loans, 3% of the CMBS market in 2017, according to BlackRock research. Hurricane Irma in 2017 affected 2%.

The BlackRock report concluded that 80% of the commercial property damaged by those two storms was outside of FEMA flood zones, indicating that many of the buildings hit may not have been appropriately insured.

Any floods this year could compound the effects of the coronavirus pandemic, which has sent more than $32 billion of commercial loans into special servicing – negotiations for relief in the event of a default – according to Moody’s.

“For property owners that’s like getting your arm amputated and then your head lopped off,” said Jacob Hagi a professor of finance at the University of North Carolina and a First Street research partner.

(Reporting by Kate Duguid; editing by Megan Davies and Steve Orlofsky)

Trump declares state of emergency as Michigan floodwaters recede

By Ben Klayman

DETROIT (Reuters) – Floodwaters that breached two dams in central Michigan began to recede on Thursday after displacing thousands of people while spreading to a Dow Chemical plant and an adjacent hazardous waste cleanup site.

U.S. President Donald Trump, acting at the request of Governor Gretchen Whitmer, issued an emergency declaration authorizing federal disaster relief to victims of severe storms that struck Michigan this week in the midst of the coronavirus pandemic.

Flooding unleashed by two dam failures on Tuesday plunged parts of the riverfront city of Midland, about 120 miles (193 km) northwest of Detroit, under several feet of water and forced the evacuation of about 11,000 residents.

The torrent also posed a potential environmental hazard as floodwaters spilled into a Dow Chemical Co plant, mixing with the contents of a containment pond there, and swept a Superfund toxic cleanup site located just downstream.

Dow, a unit of Dow Inc <DOW.N>, said in a statement on Thursday that the brine solution in the pond posed no risk to residents or the environment, and no “product releases” from the plant were known to have occurred.

The rain-engorged Tittabawassee River rose to historic levels on Wednesday before starting to recede the next day, leaving a ravaged landscape of mud and debris. No deaths or serious injuries were reported.

“This is unlike everything we’ve seen before. The damage is truly devastating,” Whitmer told a news conference on Thursday.

Trump, visiting a newly reopened Ford Motor Co <F.N> automobile factory in Detroit on Thursday, said a U.S. Army Corps of Engineers team was on the scene of the dam breaks to help assess damage and bring the situation under control.

Mark Bone, a Midland County commissioner, said floodwaters must ebb further before it was safe for evacuees to return home.

The Federal Energy Regulatory Commission directed Boyce Hydro LLC, operator of the stricken dams, to establish an independent investigation of the breaches. The agency in 2018 revoked the hydropower-generating license for one of the dams, accusing Boyce of deficiencies.

Boyce said in statements that it had been in conflict with federal and local authorities in recent years over how much water the dams should release and the levels of a nearby lake.

The company also said that since losing its license, it was unable to secure funding for dam improvements and received no government assistance.

(Reporting by Maria Caspani in New York and Rich McKay in Atlanta; additional reporting by Rajesh Kumar Singh in Chicago and Ben Klayman in Detroit; Editing by Bill Tarrant, Paul Simao and Lisa Shumamker)

Cyclone kills at least 82 in India, Bangladesh, causes widespread flooding

By Ruma Paul and and Subrata Nagchoudhury

KOLKATA/DHAKA (Reuters) – The most powerful cyclone to strike eastern India and Bangladesh in over a decade killed at least 82 people, officials said, as rescue teams scoured devastated coastal villages, hampered by torn down power lines and flooding over large tracts of land.

Mass evacuations organized by authorities before Cyclone Amphan made landfall undoubtedly saved countless lives, but the full extent of the casualties and damage to property would only be known once communications were restored, officials said.

In the Indian state of West Bengal, Chief Minister Mamata Banerjee said on Thursday that at least 72 people had perished – most of them either electrocuted or killed by trees uprooted by winds that gusted up to 185 km per hour (115 mph).

In neighboring Bangladesh, the initial toll was put at 10.

“I have never seen such a cyclone in my life. It seemed like the end of the world. All I could do was to pray… Almighty Allah saved us,” Azgar Ali, 49, a resident of Satkhira district on the Bangladesh coast told Reuters.

Mohammad Asaduzzaman, a senior police official in the area said the storm tore off tin roofs, snapped power lines and left many villages inundated.

When the cyclone barrelled in from the Bay of Bengal on Wednesday the storm surge of around five meters resulted in flooding across the low-lying coastal areas.

Reuters Television footage shot in West Bengal showed upturned boats on the shore, people wading through knee-deep water and buses crashed into each other. More images showed villagers trying to lift fallen electricity poles, fishermen hauling their boats out of a choppy sea, and uprooted trees lying strewn across the countryside.

Designated a super cyclone, Amphan has weakened since making landfall. Moving inland through Bangladesh, it was downgraded to a cyclonic storm on Thursday by the Indian weather office. And the storm was expected to subside into a depression later.

Indian Prime Minister Narendra Modi posted a tweet expressing concern over the people suffering in West Bengal.

“Have been seeing visuals from West Bengal on the devastation caused by Cyclone Amphan. In this challenging hour, the entire nation stands in solidarity with West Bengal,” he said.

Concern was growing over flooding in the Sundarbans, an ecologically-fragile region straddling the Indian-Bangladesh border, best known for thick mangrove forests and its tiger reserve.

“The tidal surge submerged some part of the forest,” said Belayet Hossain, a forest official on the Bangladesh side of the forest. “We have seen trees uprooted, the tin-roofs of the guard towers blown off,” he said.

Over on the Indian side of the Sundarbans, a village official said embankments surrounding a low-lying island, where some 5,000 people live, had been washed away, and he had been unable to contact authorities for help.

“We have not been able inform them about anything since last night, the official, Sanjib Sagar, told Reuters.

MASS EVACUATIONS

Authorities in both countries managed to evacuate more than three million people, moving them to storm shelters before Amphan struck. But the evacuation effort was focused on communities that lay directly in the cyclone’s path, leaving villages on the flanks still vulnerable.

The airport in Kolkata, West Bengal’s state capital, lay underwater and several neighborhoods in the city of 14 million people have had no electricity since the storm struck, according to residents.

After the storm passed people were trying to retrieve articles from the rubble of their shops in the city.

Pradip Kumar Dalui, an official in the state’s South 24 Parganas area, said that storm waters breached river embankments in several places, flooding over half a dozen villages, that were home for more than 100,000 people.

Electricity lines and phone connections were down in many places, but so far no deaths had been reported in this area, he said.

The cyclone came at a time when the two countries are battling to stop the spread of the coronavirus, and some evacuees were initially reluctant to leave their homes for fear of possible infection in the packed storm shelters.

 

(Additional reporting by Devjyot Ghoshal in New Delhi, Jatindra Dash in Bhubaneshwar, Writing by Sanjeev Miglani; Editing by Simon Cameron-Moore)

Michigan governor declares emergency after dams collapse

(Reuters) – Michigan Governor Gretchen Whitmer on Tuesday declared an emergency for Midland county after two dams breached and on expectations of extreme flooding.

The county said two dams, Edenville and Sanford, have collapsed due to heavy rain in the past few days and residents nearby have been told to evacuate immediately.

“In the next 12 to 15 hours, downtown Midland could be under approximately nine feet of water”, the governor said in a news conference.

Aerial view of water from a broken Edenville Dam seen flooding the area as it flows towards Wixom Lake in Michigan, U.S. in this still frame obtained from social media video dated May 19, 2020. RYAN KALETO/via REUTERS

About 3,500 homes and 10,000 people have so far been affected by the evacuation notices, CNN reported, quoting Mark Bone, Chairman of the Midland County Board of Commissioners.

No injuries or deaths have been reported so far, CNN said, citing the chairman.

Residents were also advised to seek higher ground as far as possible from the Tittabawassee river.

Two rivers in Michigan, the Tittabawassee River in Midland and the Rifle River near Sterling, were in major flooding stage, the National Weather Service (NWS) said.

The NWS also said it issued a flash flood emergency in locations downstream of the failed dams.

(Reporting by Rama Venkat in Bengaluru; Editing by Sandra Maler and Kim Coghill)

Heavy rains bring both relief and new dangers to bushfire-hit Australia

By Sonali Paul and Jonathan Barrett

MELBOURNE/SYDNEY (Reuters) – A four-day downpour across Australia’s east coast has brought relief after months of devastating bushfires and years of drought, but also widespread storm damage and forecasts of more wild weather to come.

The weekend drenching represented the biggest sustained run of rainfall in Sydney and surrounding areas for 30 years, dousing some bushfires and replenishing depleted dams across New South Wales, the country’s most populous state.

Some rural areas received more rain in recent days than they had in the entirety of the past year – a startling and swift turnaround from the bushfires that have killed 33 people and ravaged large parts of the east coast.

“It’s amazing what the smell of the rain can do to people’s spirits,” Ben Shields, the mayor of the inland city of Dubbo, told Reuters on the phone.

Like many other rural towns, Dubbo has been beset by duststorms and subjected to water restrictions on the back of a three-year drought.

James Jackson, a sheep and cattle farmer in the drought-hit Guyra district some 500 kilometers (311 miles) north of Sydney, told Reuters the region was starting to turn green again.

“This one event won’t replenish the whole soil moisture profile. We’ll need a couple of these, but this is certainly a good start for those people who got it,” said Jackson, who is also the president of industry body NSW Farmers.

“I have two-year-old sheep who are seeing green grass for the first time.”

Bushfire warning signs were almost swamped by floods in several areas as the weekend rainfall cut power to tens of thousands of homes, caused travel chaos in Sydney and closed scores of schools for the start of the week.

Almost 400 millimeters (15.8 inches) of rain fell in the Sydney area and surrounding areas. The Warragamba Dam, which supplies about four-fifths of Sydney’s water, jumped from about 40% to above 60% full in just over a week, the state’s water authority said, shoring up water supplies for the city of 5 million.

The NSW Rural Fire Service’s Sydney headquarters has been reconfigured to respond to floods and storm damage because of the rapid shift in the weather threat.

WILDFIRES EXTINGUISHED

Parts of northern and inland NSW, along with southern Queensland, have been in drought since 2016, severely reducing river and dam levels while also creating the tinder-dry conditions that have fueled this season’s deadly bushfires.

The weekend rain extinguished some of the worst bushfires in NSW, including the Gospers Mountain ‘megafire’ in the Blue Mountains and the Currawon blaze on the south coast. Each burned for months, together razing more than 1 million hectares (2.5 million acres) of bushland and destroying hundreds of homes.

In contrast, flood evacuation warnings have now been ordered for parts of the Conjola region, authorities said, where deadly fires razed dozens of homes on New Year’s Eve. Thunderstorms are forecast for NSW and neighboring Victoria state in coming days.

The rain has put some much-needed moisture into parched land months out from the all-important wheat-planting season which is crucial to the fortunes of Australia’s biggest crop.

Phin Ziebell, agribusiness economist at National Australia Bank, said the rain would also encourage farmers in the north-east state of Queensland to rebuild their stock numbers now they had water and feed.

“Some of the driest parts of Queensland have received a drenching, which will help pasture growth,” Ziebell said.

(Reporting by Sonali Paul in Melbourne and Jonathan Barrett in Sydney; additional reporting by Colin Packham; Editing by Peter Cooney and Jane Wardell)

Indonesia seeds clouds to keep them away from flooded capital

By Bernadette Christina and Jessica Damiana

JAKARTA (Reuters) – Indonesia’s air force seeded clouds with salt on Friday to try to stop rainfall reaching the slowing sinking capital after deadly flash floods and landslides triggered by some of the heaviest rain ever recorded.

The death toll in Jakarta and surrounding areas rose to 43 as of Friday, the disaster mitigation agency said, while tens of thousands of people have been displaced.

Indonesia’s technology agency BPPT and the air force carried out three rounds of cloud seeding on Friday, with more expected when needed, a BPPT official said.

The seeding, shooting salt flares in an attempt to trigger rainfall, is aimed at breaking up clouds before they reach Jakarta.

“We will do cloud seeding every day as needed,” BPPT chief Hammam Riza told reporters.

Cloud seeding is often used in Indonesia to put out forest fires during the dry season.

The floods followed torrential rains on Dec. 31 and into the early hours of New Year’s Day that inundated swathes of Jakarta and nearby towns, home to about 30 million people.

The deluge at the start of 2020 was “one of the most extreme rainfall” events since records began in 1866, the Meteorological, Climatological and Geophysics Agency (BMKG) said on Friday.

The agency said climate change had increased the risk of extreme weather and warned that heavy rainfall could last until mid-February, with Jan 11-15 an expected peak.

Television footage showed flood waters inundating parts of Southeast Asia’s largest city and mud-covered cars, some piled on top of each other.

President Joko Widodo blamed delays in flood control infrastructure projects for the disaster, including the construction of a canal that has been delayed since 2017 due to land acquisition problems.

Widodo last year announced he would move Indonesia’s capital to East Kalimantan province on Borneo island to reduce the burden on overpopulated Jakarta.

More than 50 people died in one of the capital’s deadliest floods in 2007 and five years ago much of the centre of the city was inundated after canals overflowed.

Jakarta is sinking by several cm a year in northern parts, an official said in October, due to extraction of groundwater over the years causing layers of rock and sediment to slowly pancake on top of each other.

(Additional reporting by Jakarta bureau; Writing by Gayatri Suroyo; editing by Nick Macfie)

Floods in Indonesia’s capital kill nine, force thousands to evacuate

JAKARTA (Reuters) – Flash floods inundated swathes of Indonesia’s capital and nearby towns on the first day of the New Year after torrential rainfall overnight, killing at least nine people and forcing thousands of people to evacuate, authorities said on Wednesday.

“As of 4 pm today, there are 19,079 displaced residents who have been evacuated at temporary shelters throughout Jakarta,” city governor Anies Baswedan told a news conference.

“The rain in Jakarta has stopped, now we are waiting for the water to recede”.

Indonesia’s disaster mitigation agency (BNPB) said at least 9 people had died in flash floods and landslides triggered by the rain in Jakarta and nearby towns.

Most of the deaths were due to hypothermia, though one was a teenager who was electrocuted by a power line, disaster mitigation agency spokesman Agus Wibobo said.

Television footage showed cars almost completely submerged and people wading through meters murky brown water in some neighborhoods of the capital.

Water levels in East and South Jakarta as well as in the satellite cities of Tangerang and Bekasi in West Java province started to quickly rise from 3 a.m. local time (2000 GMT), according to the disaster mitigation agency.

Indonesia’s state electricity utility said it had switched off the electricity in hundreds of districts in Jakarta, which is home to 30 million people.

The floods also caused the temporary closure of the runway at Jakarta’s domestic Halim airport, with flights redirected to the capital’ bigger Soekarno airport.

City authorities have in the last few years sought to improve low-lying Jakarta’s vulnerability to flooding during the rainy season.

More than 50 people died in one of the capital’s deadliest floods in 2007 and five years ago much of the center of the city was inundated after canals overflowed.

Jakarta resident Daniel, whose neighborhood had been waterlogged, told reporters of his disappointment with the city government’s efforts to mitigate the floods, which happen yearly during the rainy season.

“I only have one hope, which is to ask the current governor to fix this because it impact all the people,” he pleaded.

“Take the right action please, look at what is happening now, bring the situation back to normal.”

(Reporting by Jakarta bureau; editing by Philippa Fletcher)

U.S. liable for home damages from flooding during 2017 hurricane: court

HOUSTON (Reuters) – Hundreds of Houston homeowners near U.S. Army Corps of Engineers-managed reservoirs may receive compensation for flooding of their properties during 2017’s Hurricane Harvey, a federal judge ruled on Tuesday.

The U.S. Army Corps of Engineers (ACE), which managed two dams and the reservoirs, had planned to flood private properties in the event of inundating rainfall, Senior Judge Charles Lettow of the U.S. Court of Federal Claims said in his decision.

Harvey dumped nearly 3 feet (90 cm) of water on the fourth most-populous U.S. city and flooded a third of Harris County, where the city and many of its suburbs are located along the U.S. Gulf Coast.

“The government had made a calculated decision to allow for flooding these lands years before Harvey, when it designed, modified, and maintained the dams in such a way that would flood private properties during severe storms,” Lettow wrote.

The ruling, which involved 13 owners chosen as test cases, opens the door to billions of dollars in potential claims from other property owners, attorneys have said.

The homes were built in areas that had been free of major flooding around federal land in the Addicks and Barker reservoirs in West Houston. The ACE called the enormous rainfall during Harvey an unforeseeable event.

Homeowners alleged the government improperly used their land to store water, calling it an unlawful taking of their properties by the government. Under the Fifth Amendment to the U.S. Constitution, the federal government cannot take private property without compensating the owner.

A representative for the Army Corps of Engineers was not immediately available to answer questions about the decision.

Lettow is expected to make a decision next year on the amount of compensation the 13 homeowners can receive.

“The government intentionally flooded these private homes and businesses to save downtown Houston,” said attorney Daniel Charest of Burns Charest, co-lead class counsel for the property owners.

(Reporting by Erwin Seba; Editing by Peter Cooney)

Disaster hacks: South American cities harness tech and nature to tackle flooding

By Anastasia Moloney

BOGOTA (Thomson Reuters Foundation) – Hit with ever-more-frequent torrential rain that triggers worsening flooding and mudslides most years, Rio de Janeiro is looking to an unusual gathering for answers: a hackathon.

Starting Saturday, teams of university students, tech start-up leaders, software developers and computer engineers will try to come up with innovative ways to help the seaside Brazilian city limit its losses as climate change brings wilder weather.

Tech experts at the city hall-led event hope to, for instance, come up with new ways to leverage data from GPS systems already used in the city’s buses to allow emergency services to better understand and monitor floods in real time.

“We know we have problems of floods and heavy rains, and we see an opportunity to use GPS to know where the flooding and landslide incidents are,” said Simone Silva, a mobility advisor at city hall and one of the organizers.

Right now, “at the very local level, we don’t know exactly what happens,” she told the Thomson Reuters Foundation.

RISING URBANIZATION

Around Latin America, tens of millions of people are at risk from worsening flooding linked to climate change, many of them living in urban slums often built along rivers or on mountain slopes prone to landslides.

About 80% of Latin America’s people live in the region’s urban areas, according to the United Nations.

But across the region, cities are working to cut the risks, harnessing technology, better data and insights from affected communities to come up with new ways to keep people safe.

Flooding is clearly seen as one of the most severe threats. Of 530 cities worldwide that reported their climate hazards in 2018 to CDP, a London-based international environmental non-profit, 71% said floods were their top worry.

Extreme heat came next, at 61%, followed by drought at 36%, according to the study, published last month.

But over half of cities have not carried out risk assessments to map which areas, residents and businesses are under threat from extreme weather, the study found.

“We have seen that cities that take vulnerability assessments, they take six times as many actions to adapt as cities that haven’t done them,” said Kyra Appleby, who heads the CDP’s cities, states and regions team.

Geographic information system (GIS) technology that allows data about hazards and climate risks to be overlayed with existing maps of cities has made it easier for authorities to do risk assessments, she added.

That and other technologies are among the measures being used in a range of cities around Latin America to deal with worsening economic and human losses from floods.

In recent decades, Rio de Janeiro, for instance, has put in place early warning systems to help evacuate people ahead of threats, mapped of floodplain areas, built shelters and conducted emergency drills in slum areas, Appleby said.

The city also has installed cameras to monitor street flooding and set up social media alert systems.

Other cities are introducing digital sensors to try to cut risks. Argentina’s capital, Buenos Aires, is developing a network of sensors to monitor rainfall and feed back data in real time to the city’s central control centre.

Ensuring climate change adaptation measures are included in all urban planning is crucial, Appleby said, noting that the city of Belo Horizonte, in Brazil’s Minas Gerais state, is one of those leading the way.

“It’s in the process of creating a new masterplan for the city and they are integrating all their adaption measures into their masterplan. That is really ahead of the curve,” she said.

To be effective, climate adaption plans must include the input of local communities, according to Anjali Mahendra, head of research at the World Resources Institute Ross Center for Sustainable Cities.

“Latin American cities are particularly good with involving communities,” she said.

That’s largely because early urbanization in the region means cities have had longer experience working with informal settlements and other disadvantaged communities, she said.

African and South Asian cities, facing rapid urbanization are “starting to learn from some Latin American cities,” Mahendra said.

Colombia’s second city of Medellin and Ecuador’s capital Quito – which has a climate change panel that includes youth, women and indigenous groups – in particular have worked hard to include local communities in decisions about urban planning and climate risks, said Mahendra.

USING NATURE

To tackle growing flood threats, more investment also is needed in “nature-based solutions” – such as expanding green areas to absorb floodwaters, said Pedro Ribeiro, head of the Urban Flooding Network at C40, a group of cities pushing climate action.

Creating green buffer areas to stem urban sprawl and protecting and restoring degraded ecosystems around cities, including forests, watersheds, grasslands and wetlands, can help slow the movement of water and avoid flooding, he said.

“It’s easier to recover ecosystems that were in the city before building .. and the results are better” than trying to establish wholly new anti-flooding systems, Ribeiro said.

(Reporting by Anastasia Moloney @anastasiabogota, Editing by XXXX. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women’s and LGBT+ rights, human trafficking, property rights, and climate change. Visit http://news.trust.org)

U.S. states declare emergencies to help farmers hit by propane shortage

(Reuters) – At least eight U.S. Midwest states declared emergencies in recent weeks over regional shortages of propane needed by grain farmers to dry their crops amid a late harvest and wet weather.

Illinois, North Dakota, South Dakota, Minnesota, Nebraska, Iowa, Indiana and Wisconsin eased restrictions on the transport of propane to help alleviate the local shortages. There is no nationwide shortage and residential propane prices recently were about 22% below that of a year ago.

Spring flooding in U.S. Midwest farming states led to late harvests that have triggered a surge in demand for the fuel used to reduce moisture in corn crops to ready for sale or to safely store the grain.

“The late harvest and high demand for petroleum products throughout the Midwest have resulted in low supplies of propane as well as difficulty transporting,” according to a notice on Iowa Governor Kim Reynolds’ website.

The state’s declaration relaxes size and weight limits on vehicle transport. An earlier proclamation eased operating-hour rules on propane carriers. The latest rule, like most of the other states’ orders, is effective for a month.

Propane carriers faced four- to six-hour waits last week at the Conway, Kansas, propane terminal that is the nation’s second-largest, and drivers were facing restrictions due to the wait, one official said.

“There is plenty of propane on hand in the country,” said Greg Noll, executive vice president of Propane Marketers Association of Kansas. “We just need to get it from the points that have it on hand to the points where it is needed.”

Texas, which is home to the nation’s largest storage in Mont Belvieu, reported no emergency or shortage.

Consumers have not faced shortages because most homeowners would have had their tanks filled by now, said Noll.

Residential propane prices at the start of the U.S. heating season were under $2 a gallon, or about 22% lower than at the start of winter last year, according to government data issued on Monday.

Propane and propylene stocks were 97.6 million barrels the week ended Nov. 8, up nearly 14 million barrels from a year-ago, the U.S. Energy Information Administration reported last week. It said average wholesale propane prices in the Midwest were 78 cents a gallon excluding taxes, flat from a year earlier.

(Reporting by Arpan Varghese and Nakul Iyer in Bengaluru, Gary McWilliams in Houston; editing by Bill Berkrot)