How Harvey could hurt the Texas economy for years

Gulf of Mexico oil production down by a quarter after Hurricane Harvey

Additional fatalities were feared in Rockport, where an estimated 5,000 residents had stayed put for the storm that blasted ashore as a Category 4 around 11 p.m. ET on Friday between Port Aransas and Port O'Connor, Aransas County Sheriff Bill Mills said.

The storm is expected to keep slowing and dumping rain through the middle of next week. Just under 25 per cent of Gulf output, or 429,000 barrels per day (bpd) had been shut in by the storm, the US Bureau of Safety and Environmental Enforcement said on Saturday. The rain is expected to persist for days, and trillions of gallons of storm runoff will continue to cause problems as they consolidate in creeks, bayous and riverways.

"Our focus is shifting to the extreme and potentially historic levels of flooding that we could see".

The county judge said that he had no reports of deaths.

Harris County Sheriff Ed Gonzalez said via Twitter that many rescues were taking place overnight in the Houston area and requests were coming in for high-water rescues.

The White House held a teleconference call Saturday, led by homeland security adviser Tom Bossert, in which Trump asked a lot of questions on a range of issues, including about flooding and mass power outages, the administration official said.

Hurricane Harvey, which has cut a path of devastation through parts of coastal Texas, was downgraded to a tropical storm on Saturday afternoon.

About 10 people were taken to the county jail for treatment after the roof of a senior housing complex collapsed, television station KIII reported.

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"With the hurricane bearing down on the Texas coast, at least three cruise ships with thousands of passengers aboard were forced to change their plans to sail for the Port of Galveston".

Yet forecasters no longer think there is a possibility Harvey will go back into the Gulf of Mexico and then make landfall in Louisiana. But even a downgraded storm could leave a lasting impact on the Texas economy and America's energy industry. It was moving north at 2mph, according to the hurricane centre. Trump, who plans to visit the storm zone next week, has signed a disaster declaration for Texas.

Brock Long told ABC News that the proclamation allowed FEMA to "bring the entire firepower of the federal government down to help our state and local governments meet their responsibility and recovery goals".

"Closely monitoring #HurricaneHarvey from Camp David".

Greg Abbott is warning of the "potential for very dramatic flooding" from Harvey.

2005 was a huge year for hurricanes - before Wilma, Hurricane Katrina pummeled New Orleans, leaving more than 1,800 dead.

Rockport Mayor CJ Wax said countless businesses and homes had been completely destroyed or suffered catastrophic damage.

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