The multi-billion dollar investments currently being made in and near smaller ports along the Gulf Coast by some of the largest energy companies in the country are part of the long history of ports in the area.
According to industry sources, Iraq has increased its oil exports this year, in spite of the fact that, like fellow OPEC members and other oil-producing countries, it agreed late last year to cut crude production for the first six months of 2017 in an effort to stop the slide of prices.
The government of Mexico began the new year with a move to begin deregulating the energy sector. The change in policy will eliminate fuel subsidies and price controls to allow prevailing international gasoline prices to manage the market. This will kick up Mexican fuel costs as much as 20%. It is the first such government move since 1992 when the government controlled inflation by setting a ceiling on the maximum allowable price of fuel.
In 2016, drivers in every section of the country enjoyed some of the lowest prices at the pump since 2004, according to the U.S. Energy Information Administration (EIA). In fact, per-gallon prices haven't topped $3.00 in 9 of the 10 cities in which the EIA collects weekly data on gasoline prices.