Shale Boom Raises Specter of Gulf Coast Oil Terminal Glut
- As Permian pipes kick in, at least nine new terminals proposed
- Only a few likely to thrive based on the amount of oil added
Photographer: Eddie Seal/Bloomberg
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The race to export U.S. shale oil overseas is about to get fierce, with at least nine proposed terminals angling for a piece of a very limited pie.
Within 18 months, new pipelines opening in the nation’s most prolific shale basin promise to carry an added 2 million barrels of oil a day to the Gulf Coast. But the extra crude will arrive at a time when existing terminals in the Corpus Christi area can already offer only about 300,000 barrels a day of unused capacity.