Possible Expansion at ExxonMobil Beaumont?

[NorthoftheBorder]

http://www.reuters.com/article/2014/07/25/us-refinery-operations-exxon-mobil-beaum-idUSKBN0FU12O20140725

 

[stevenash]

Great news.  Thank G-d for the energy industry.  Yes, those greedy oil companies that make too much in profits ( except when they need to use them for situations like BP did in regard to the spill which DID NOT require a government /taxpayer bailout) are considering expanding.  Profits provide the potential for more jobs and higher paying jobs.  The left still does not understand that.  Imagine how things would be if the Keystone pipeline was operative.

[NorthoftheBorder]

A couple of things.   i wonder if ExxonMobil waited to see what would happen and until the changes at BISD were made before they even announced that they were looking at doing this here in Beaumont.  Could have had a bearing on their decision to expand here.  Also, maybe they are betting that ultimately Keystone will come to area as it is planned to if our esteemed leadership at the federal government will get it's proverbial head out of it's proverbial arse!!!

[PN-G bamatex]

A couple of things.   i wonder if ExxonMobil waited to see what would happen and until the changes at BISD were made before they even announced that they were looking at doing this here in Beaumont.  Could have had a bearing on their decision to expand here.  Also, maybe they are betting that ultimately Keystone will come to area as it is planned to if our esteemed leadership at the federal government will get it's proverbial head out of it's proverbial arse!!!

 

If I remember correctly (don't quote me on this), various energy companies had local projects in the earliest planning stages that were shelved after the 2008 financial collapse. It could be that they're finally getting back to a point of enough confidence to go through with them, although I have no doubt they've paid attention to the BISD situation as well.

 

There's one more thing that could have also had some influence on it:

 

Texas now is pumping 36 percent of the nation’s oil, more than doubling its production in three years, according to new federal data.

The Energy Information Administration reports that Texas oil production topped 3 million barrels per day in April, for the first time since the late 1970s.

 

Nearly as much crude flowed from Texas as from Iraq, which was the second largest OPEC producer in April at 3.2 million barrels per day, according to estimates from Bloomberg. The news agency estimates that Iraq’s production fell to 2.9 million barrels in June amid insurgent violence, which would drop it below Texas oil if the state’s supply continued to rise as it did every month since 2011.

 

http://www.mrt.com/business/article_59018b8a-017b-11e4-8546-0019bb2963f4.html

 

Texas oil production has been increasing for last 54 months, sending production in the state up 180 percent during that period. Texas is now in a position to eclipse its all-time 1972 production record within two years, Ingham said.

 

https://www.rigzone.com/news/oil_gas/a/134240/Texas_Petro_Index_Seventh_Record_High_as_Production_Closes_in_On_AllTime

[new tobie]

This is what Exxon Mobil announce at its baytown facility last year. Exxon Mobil is the largest public  company in Texas. http://fuelfix.com/blog/2013/03/05/exxon-mobil-plans-multibillion-dollar-baytown-plant-expansion/

[new tobie]

maybe this news may have helped also.   http://www.theexaminer.com/stories/news/president-signs-sabine-neches-waterway-bill

[NorthoftheBorder]

maybe this news may have helped also.   http://www.theexaminer.com/stories/news/president-signs-sabine-neches-waterway-bill

I believe NewTobie that this could very well have been a factor.  I talked with one of the higher ups at the Port of Beaumont yesterday and he told me that this would be very beneficial to the PetroChem industry in our area.  Although the funding has not been put in place to start the project, kudos to the President for signing the bill.  Now if he would just sign the Keystone Pipeline bill.