Posted by Staff Writer on 7/7/2017 to
Market Sectors
IncSmart Texas (Small Business and Startups) - The south Texas ports in Corpus Christi are booming. For 40 years, the US energy policies would not allow American oil on the international market. Congress ended this ban in 2015. Since then there has been a surge reaching 1.3 million barrels a day. This represents a 15 percent of domestic oil production. American crude oil is being exported to dozens of countries. This has been an exciting year for the American oil and gas industry.
Oil and dock workers in Texas lost about 100,000 oil jobs since late 2014. Corpus Christi is the hub of refineries and pipelines. The city is beginning a $1 billion capital investment plan that includes deepening and widening the shipping channel to make way for bigger tankers to dock and load. Corpus Christi has an increase of 68,000 barrels a day in 2016 to 384,000 barrels a day this April 2017. This will add more than 30,000 jobs in Corpus Christi and 484,000 jobs nationwide, most in Texas, over the 20 years.
By IncSmart Staff Writer
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