Louisiana port project could define ceiling for shale oil demand

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A proposed Louisiana port project could define the ceiling for the future of the Texas shale oil boom, according to a new report.

While Houston and Corpus Christi are leading the way in the burgeoning crude oil export industry, they could be surpassed by proposed plans to turn the Louisiana Offshore Oil Port into a “two-way LOOP” that ships out crude as well as receives it.

The LOOP is currently gauging customer interest for major crude exports. If successful, LOOP could make oil exports comparable to the nation’s growing liquefied natural gas export industry. If the interest isn’t there, we’ll know the “ceiling on international demand for shale crude,” argues Sandy Fielden, Morningstar’s director of oil and products research…

 

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