{"id":79377,"date":"2017-09-27T00:02:34","date_gmt":"2017-09-27T07:02:34","guid":{"rendered":"https:\/\/www.globaltrademag.com\/?p=79377"},"modified":"2017-09-23T18:32:35","modified_gmt":"2017-09-24T01:32:35","slug":"texas-elite-cities-business","status":"publish","type":"post","link":"https:\/\/www.globaltrademag.com\/texas-elite-cities-business\/","title":{"rendered":"TEXAS ELITE CITIES FOR BUSINESS"},"content":{"rendered":"<p><span style=\"text-decoration: underline; font-size: large;\"><a href=\"https:\/\/www.globaltrademag.com\/global-logistics\/niche-ports-pushing-growth\"><span style=\"font-family: Times;\">The<\/span><\/a><\/span><span style=\"font-family: Times;\"><span style=\"font-size: large;\"><span style=\"text-decoration: underline;\"> Port of Corpus Christi<\/span>\u2013already the No. 1 exporter of U.S. crude oil in the nation\u2013is about to embark on a channel improvement project that will further boost the resurgence of the American energy sector.<\/span><\/span><\/p>\n<p><span style=\"font-family: Times;\"><span style=\"font-size: large;\">The Port of Corpus Christi Authority Commission and the U.S. Army Corps of Engineers in September executed a project partnership agreement for the deepening and widening of the Corpus Christi Ship Channel. The CC Ship Channel Improvement Project will widen the CC Ship Channel to 530 feet and create additional barge shelves, which will enable two-way vessel and barge traffic. The project will also deepen the CC Ship Channel to 54 feet MLLW (Mean Lower Low Water) to allow for safe passage of deep draft vessels.<\/span><\/span><\/p>\n<p><span style=\"font-family: Times;\"><span style=\"font-size: large;\">These improvements will significantly benefit the country\u2019s energy sector, says Sean Strawbridge, deputy executive director and chief operating officer<\/span><\/span><span style=\"font-family: Times;\"><span style=\"font-size: small;\">.<\/span><\/span><\/p>\n<p>\u201c<span style=\"font-family: Times;\"><span style=\"font-size: large;\">The United States is on track to become a net <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.globaltrademag.com\/global-trade-daily\/twists-turns-us-oil-exports-imports\">exporter of its energy production<\/a><\/span> by 2022\u2013the last time the U.S. was a net energy exporter was 1953,\u201d Strawbridge says. \u201cThis resurgence of the American energy sector after many decades of relying on foreign energy is clearly driving the growth at the Port of Corpus Christi.\u201d<\/span><\/span><\/p>\n<p><span style=\"font-family: Times;\"><span style=\"font-size: large;\">To place crude or natural gas in foreign markets, it has to be done competitively, with larger ships that can transport \u201cmore molecules,\u201d he says.<\/span><\/span><\/p>\n<p>\u201c<span style=\"font-family: Times;\"><span style=\"font-size: large;\">The channel improvement project further solidifies our customers\u2019 ability to be competitive in the global marketplace,\u201d Strawbridge says. \u201cThey\u2019re competing with other countries, particularly in the Middle East, and must have the infrastructure to handle the larger ships such as the Q-Max and VLCC vessels. The transportation savings with these vessels is significant, as much as $1 per barrel.\u201d<\/span><\/span><\/p>\n<p><span style=\"font-family: Times;\"><span style=\"font-size: large;\">Port commissioners also approved the acceleration of $32 million in port funds to the Corps to expedite the initial construction phase of the project, which will deepen of the channel from the Gulf of Mexico to Harbor Island.<\/span><\/span><\/p>\n<p><span style=\"font-family: Times;\"><span style=\"font-size: large;\">Congress, under the <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.globaltrademag.com\/global-trade-daily\/transportation-infrastructure-likely-policy-developments\">Water Resources Development Act<\/a><\/span> of 2007, initially authorized the entire project. Congress re-authorized it when that law was revisited in 2014 and reaffirmed its commitment to the project under the 2016 Water Infrastructure Improvements for the Nation Act.<\/span><\/span><\/p>\n<p><span style=\"font-family: Times;\"><span style=\"font-size: large;\">With the Corps\u2019 proportionate cost-share projected to be $225 million and the port\u2019s proportionate cost-share projected at $102 million, the entire project is estimated to cost $327 million. The PPA allows the PCCA to accelerate its portion of the project cost-share, thereby allowing construction to commence ahead of federal appropriations up to $102 million.<\/span><\/span><\/p>\n<p><span style=\"font-family: Times;\"><span style=\"font-size: large;\">The Port of Corpus Christi is \u201cat the forefront of the energy resurgence,\u201d says Strawbridge, citing its proximity to the Eagle Ford Shale, which extends deep into Mexico, and the Permian Basin, the nation\u2019s largest crude oil producing region. That dominance is especially evident now with the port\u2019s ability to deepen and widen the ship channel as well as build wider berths and a higher bridge, including the new $1 billion Harbor Bridge Project.<\/span><\/span><\/p>\n<p>\u201c<span style=\"font-family: Times;\"><span style=\"font-size: large;\">That\u2019s why we\u2019re seeing $50 billion in private investments in and around Corpus Christi\u2019s ship channels\u2013which just solidifies the energy dominance of the U.S. energy sector,\u201d Strawbridge says.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Port of Corpus Christi\u2013already the No. 1 exporter of U.S. crude oil in the nation\u2013is about to embark on&#8230; <a class=\"read-more\" href=\"https:\/\/www.globaltrademag.com\/texas-elite-cities-business\/\">Read More<\/a><\/p>\n","protected":false},"author":378,"featured_media":79378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[3987,118,3855,3993,3995,3830,123,3165,3997],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TEXAS ELITE CITIES FOR BUSINESS - Global Trade Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.globaltrademag.com\/texas-elite-cities-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TEXAS ELITE CITIES FOR BUSINESS\" \/>\n<meta property=\"og:description\" content=\"The Port of Corpus Christi\u2013already the No. 1 exporter of U.S. crude oil in the nation\u2013is about to embark on... 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