THE ECONOMIC IMPACT OF A DEEPWATER TERMINAL IN TEXAS

Determination of the economic impact of an offshore, bulk-unloading ship terminal is an essential prerequisite for building such a facility. Many decisions concerning the terminal will be made on the strength of the anticipated economic gains that such a facility will bring to the region where it is constructed. The primary impact of a Texas terminal will be reflected in growth of the oil refining and related industries in the state. This growth will stimulate a spending and re-spending cycle throughout the economy. The total impact will exceed that of the oil refining industry itself. It is estimated that the crude oil that will be shipped into Texas in tankers which can dock only at a deepwater terminal will reach levels of 1.0, 2.1, and 3.5 million barrels per day in 1975, 1980, and 1985 respectively. These projected import levels would permit an estimated growth of oil refining runs from 3.0 to 6.5 million barrels per day in 1972 and 1985 respectively. Corresponding refinery outputs generated would reach $13.2 billion in 1985. New jobs anticipated in Texas amount to 72,887 in 1975, and 336,770 in 1985. Without a deepwater terminal, the primary impact would be loss of future job opportunities, reduced amounts of tax monies and reduced activity throughout the economy.

  • Corporate Authors:

    Texas A&M University, College Station

    Sea Grant Program, Center for Marine Resources
    College Station, TX  USA  77843
  • Authors:
    • Bragg, D M
    • Bradley, J R
  • Publication Date: 1972-11

Subject/Index Terms

Filing Info

  • Accession Number: 00043737
  • Record Type: Publication
  • Source Agency: Texas A&M University, College Station
  • Report/Paper Numbers: TAMU-SG-72-213
  • Contract Numbers: NOAA-2-35213
  • Files: TRIS
  • Created Date: May 4 2003 12:00AM