Oil exports on the rise in Louisiana

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Air Pollution Oil Drilling Texas_1559730799436

FILE – This Oct. 9, 2018, file photo shows an oil rig and pump jack in Midland, Texas. The Environmental Integrity Project noted in a report released Thursday, May 9, 2019, that the Permian Basin, which include some West Texas cities, such as Midland, is one of the most productive hydrocarbon regions in the world. […]

LAFOURCHE, La. (AP) — The Louisiana Offshore Oil Port is becoming a major world source of exported crude oil.

The New Orleans Advocate reports the port, or LOOP, has more than doubled the number of oil tankers loaded for crude export in the first six months of the year.

The major force behind the surge is the lifting of a 40-year ban on crude exports that ended in 2015. And after four decades of declines, U.S. crude production has increased from 5 million barrels per day in 2010 to 12.4 million per day in May.

LOOP President Terry Coleman says the additional commercial activity could expand LOOP’s workforce.

Coleman says trade turmoil with China and India may create production volume inefficiencies but he believes the market will eventually rebalance.

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