The LOOP is testing the exporting of crude… WSJ

The LOOP is testing the process of exporting oil… This, from the Wall Street Journal’s, Alison Sider:

”A supertanker recently pulled up to the Louisiana Offshore Oil Port to test loading up on crude at the facility, the port announced on Tuesday. The test is significant because no other Gulf Coast ports have the capability to fully load the large crude carriers that can more profitably export oil to Asian markets.”

Here are exports so far…

 

”LOOP, as the Louisiana port is known, has been receiving oil shipments from abroad since 1981, but unlike other Gulf Coast ports has never sent oil out. The port, which is 17 miles out to sea and connected to the shore by pipeline, is the only one in the U.S. deep enough to allow these large carriers to be fully loaded with oil without scraping along the bottom. These supertankers can carry 2 million barrels of crude, so they can more profitably make the long journeys to markets in Asia, analysts say.”