The federal Maritime Administration is holding a final public hearing 6 p.m. Tuesday...
Enterprise’s Sea Port Oil Terminal, called SPOT, would be built about 30 miles south of Freeport. A pipeline would transport crude from the company’s pipeline network in Houston to Surfside, where it would cut under the beach before heading 30 miles offshore to the port.
At the time the SPOT project and its competitors were proposed, oil was pouring out of the Permian Basin. Crude exports were expected to double to 6 million barrels per day by 2022, but the COVID-19 pandemic disrupted Texas oil’s meteoric rise, cratering global demand and halting the industry in its tracks.is the guiding principle — wary investors are calling on companies to invest cautiously while constantly returning cash to shareholders.
Now, the United State exports around 3.5 million barrels per day — much less than the projections of three years ago. Exports are still expected to rise, though not nearly as quickly as in the pre-pandemic years, when oil companies ramped up production more swiftly. Competing projects lag Enterprise Product’s SPOT. Phillips 66's Bluewater project offshore of Corpus Christi and Sentinel Midstream's Texas GulfLink off the coast of Brazoria County are waiting on a final environmental impact statement from the Maritime Administration, which would trigger a final round of public comment.
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