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Biden Quietly Approved 2 Million Bpd Texas Oil Terminal

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Despite its clear anti-oil stance, the Biden administration has just approved a new oil export terminal on the Texas Gulf Coast that will become the nation’s largest oil export infrastructure.

Although the new terminal will add about 2 million barrels per day of new export capacity, the news did not attract much public attention and the project began very quietly, according to the Texas Tribune.

The approval comes amid suggestions by congressional Democrats that the United States should limit oil exports to protect local supplies.

The Tribune noted that approval for the project was filed at the beginning of the week after the COP27 climate conference ended. However, the official approval of the Sea Port Oil Terminal did not go completely unnoticed.

“President Biden cannot lead on climate change, public health protection or environmental justice while allowing fossil fuel companies to lock themselves into decades of fossil fuel extraction,” said a senior policy advocate at Earthworks, a climate nonprofit.

However, the Houston Chronicle suggested in an earlier report that official approval does not guarantee construction. News reported that if the Sea Port Oil Terminal was built, it would be the first of four projects proposed in 2019 to come to fruition. The aim of these projects was to make oil loading more efficient and reduce transport costs.

“It is gratifying to see the Norwegian Maritime Administration recognize the significant environmental and maritime safety benefits of SPOT compared to current industry practice,” said Enterprise Products Partners, the company behind the Sea Port Oil Terminal.

The project involves the construction of a terminal approximately 50 kilometers south of Freeport in Surfside and a pipeline to carry oil from Enterprise Products Partners’ regional network to an offshore facility. The new terminal will make it much easier to load larger tankers that cannot be accommodated by normal ports on the Persian Gulf coast.

Irina Slav for Oilprice.com

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Source: https://finance.yahoo.com/news/biden-quietly-approved-2-million-140000945.html

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