CORPUS CHRISTI, Texas — An article by Forbes said that oil could be the top U.S. export of 2023. This is good news since the Port of Corpus Christi could become the number one oil port in the country.
Port of Corpus Christi CEO Kent Britton said that a significant factor in this is the available supply from two primary oil fields.
"The Eagle Ford Shale and the Permian Basin here in Texas, which the Permian is the largest oil producing area of the United States," he said.
We've heard about the port breaking records for the amount of products being shipped from here, and Britton said that if their record-breaking tonnage continues through the end of the year, the port will claim the top spot for oil export along the U.S. coast.
"We've got fantastic customers here who have built the best set of crude oil export terminals in the whole U.S. And then you have that available supply coming out of west Texas," he said.
The top five U.S. exports as of this past August are gasoline and other fuels, crude petroleum, liquefied natural gas, civilian aircraft parts, and passenger vehicles.
Britton said that the record-breaking 52 million tons that moved through the port in the third quarter represented a 7.7 percent increase from the previous year. The new high mark can primarily be attributed to a surge in crude oil exports.
The port has been the top-ranked nationally for oil exports for seven of the last nine years, soon to be eight out of the last 10. Britton mentioned that for jobs or starting a business, this is the place to be.
"We've seen roughly 60 billion dollars of investment into this region over the last decade. All of that investment has gone into creating good, high paying jobs for this region," he said.
For those old enough to remember, the turning point was the 2016 legislation that allowed the export of domestic oil, a practice that had been nearly banned since the 1973 Arab oil embargo.
More from 3News on KIIITV.com:
- New trial date set for Sandra Vasquez, the second person accused in Breanna Wood murder
- Utah sues TikTok, alleging it lures children into addictive, destructive social media habits
- "Tejano Couture" - Coastal Bend native making waves in the world of fashion
- Latin Cuisine: La Tequila Jalisco Mexican Restaurant
- El Obrero reopens Saturday with support of community
- Here's when you can watch the 2023 solar eclipse over Corpus Christi
Subscribe to our YouTube channel for your daily news and exclusive extended interviews.
Do you have a news tip? Tell 3!
Email tell3@kiiitv.com so we can get in touch with you about your story should we have questions or need more information. We realize some stories are sensitive in nature. Let us know if you'd like to remain anonymous.