Corpus Christi On Track To Benefit From Increased Oil Development
With a new, taller bridge and ongoing dredging project, the Port of Corpus Christi is setting itself up to be a major player in the global energy market as “the nation’s energy port.” The Corpus Christi Caller-Times recently reported on the new role the city is playing in the energy sector:
“The region has evolved into a major player in both the refinement and transportation of crude, condensates and other chemicals. It also is positioning itself in the mid-stream of the market through Port of Corpus Christi and its facilities under construction. Port officials say they’ve had to adjust to meet market growth since the recent expansion of the Panama Canal and the repeal of a decades-long ban of crude exports.”
Jim Lee, the chief economist at Texas A&M University-Corpus Christi, stated:
“As the majority of the economic impact of upstream oil production comes from capital investments in well construction and completion. This is good news for South Texas and Corpus Christi.”
More and more companies are expanding their operations in Corpus Christi, building refineries, petrochemical plants, pipelines, and LNG export terminals. While some environmentalists oppose these projects, their claims and attempts at scare tactics have been proven false, with local residents welcoming the many benefits of increased development.