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Texas Oil Port Hit by One-Two Punch: Falling Demand and Overproduction

April 28, 2020

CORPUS CHRISTI, Texas — Ever since this Gulf Coast city’s leaders helped persuade the Obama administration and Congress to lift the export ban on liquid fossil fuels in 2015, the Port of Corpus Christi has been a steady tide of construction, creating nearly 10,000 permanent jobs and bringing in $54 billion in capital investment.

But the coronavirus pandemic, which has slammed the brakes on economic activity across the nation, threatens to halt investment in planned projects and abandon thousands more new jobs.

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