Texas Railroad Commissioner predicts rise in price of oil

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data-tealium-pagename="Nation Now"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/nation-now" data-ht="Headermorenation-now">Nation Now </a> </li> <li class="site-nav-more-dropdown-item site-nav-more-dropdown-item-1col" data-tealium-tracker="nav_click" data-tealium-pagename="Traffic"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/traffic" data-ht="Headermoretraffic">Traffic </a> </li> <li class="site-nav-more-dropdown-item site-nav-more-dropdown-item-1col" data-tealium-tracker="nav_click" data-tealium-pagename="Sports"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/sports" data-ht="Headermoresports">Sports </a> </li> <li class="site-nav-more-dropdown-item site-nav-more-dropdown-item-1col" data-tealium-tracker="nav_click" data-tealium-pagename="Features"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/features" data-ht="Headermorefeatures">Features </a> </li> <li class="site-nav-more-dropdown-item site-nav-more-dropdown-item-1col" data-tealium-tracker="nav_click" data-tealium-pagename="About"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/about" data-ht="Headermoreabout">About </a> </li> <li class="site-nav-more-dropdown-item site-nav-more-dropdown-item-1col" data-tealium-tracker="nav_click" data-tealium-pagename="Video"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/media/videos" data-ht="Headermorevideo">Video </a> </li> <li class="site-nav-more-dropdown-item site-nav-more-dropdown-item-1col" data-tealium-tracker="nav_click" data-tealium-pagename="Just for You"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/features/just-for-you" data-ht="Headermorejust-for-you">Just for You </a> </li> <li class="site-nav-more-dropdown-item site-nav-more-dropdown-item-1col" data-tealium-tracker="nav_click" data-tealium-pagename="Your Health"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/features/your-health" data-ht="Headermoreyour-health">Your Health </a> </li> <li class="site-nav-more-dropdown-item site-nav-more-dropdown-item-1col" data-tealium-tracker="nav_click" data-tealium-pagename="Contests"> <a class="site-nav-more-dropdown-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/features/contests" data-ht="Headermorecontests">Contests </a> </li> </ul> </div> </div> </span> </li> <li class="site-nav-item site-nav-item-theme-broadcast site-nav-primary-item site-nav-spacer-item site-nav-spacer-item site-nav-module site-nav-spacer-module 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</div> </div> </div> </div> </div> </div> </div> <article class="portlet-layout row asset story clearfix"> <div class="portlet-column column story-utility-bar" id="column-3"> <div class="portlet-dropzone empty portlet-column-content" id="layout-column_column-3"></div> </div> <div class="row"> <div class="col-12 story-top-row" id="story-top"></div> </div> <div class="portlet-column column story-left-column" id="column-4"> <div class="portlet-dropzone portlet-column-content" id="layout-column_column-4"> <div id="p_p_id_101_INSTANCE_mNxAr6qDGaiS_" class="portlet-boundary portlet-boundary_101_ portlet-static portlet-static-end portlet-borderless portlet-asset-publisher "> <span id="p_101_INSTANCE_mNxAr6qDGaiS"></span> <div class="portlet-body"> <div class="portlet-borderless-container" style=""> <div class="portlet-body"> <div> <div class="asset-full-content default-asset-publisher no-title"> <div class="asset-content"> <div class="journal-content-article"> <article class="asset story clearfix"> <section class="story-left-column"> <div class="portlet-boundary"> <div class="mod-story mod-wrapper rendering" id="mod-story">  <section class="story-utility-bar"> <div class="utility-bar-wrap mod-wrapper"> <div class="utility-bar"> <div class="util-bar-primary-modules"> <div class="util-bar-module util-bar-module-share"> <div class="util-bar-btn util-bar-btn-facebook util-bar-btn-share share-button facebook" data-tealium-share="" data-tealium-tracker="leftbar_facebook"> <span class="util-bar-share-count util-bar-share-count-facebook"></span> </div> <a class="util-bar-btn util-bar-btn-twitter share-button twitter" data-tealium-share="" data-tealium-tracker="leftbar_twitter"></a> <a class="util-bar-btn util-bar-btn-linkedin share-button linkedin" data-tealium-share="" data-tealium-tracker="leftbar_linkedin"></a> <a class="util-bar-btn util-bar-btn-googleplus share-button googleplus"></a> <a class="util-bar-btn util-bar-btn-pinterest share-button pinterest"></a> <a class="util-bar-btn util-bar-btn-comments share-button comments"> <span class="util-bar-comments-count util-bar-comments-count-facebook"></span> </a> <a class="util-bar-btn util-bar-btn-print" href="javascript:print();" data-tealium-share="" data-tealium-tracker="leftbar_print"></a> </div> </div> </div> </div> </section>  <section class="storytopbar-bucket story-headline-module"> <h1 class="asset-headline" itemprop="headline">Texas Railroad Commissioner predicts rise in price of oil</h1> </section>  <section class="storytopbar-bucket priority-asset-module"> <div class="story-priority-asset video-asset"> <div class="ui-video-wrapper" itemprop="video" itemscope="" itemtype="http://schema.org/VideoObject"> <div class="ui-video story-video story-priority-video video-player-loaded"> <div class="js-jwloader" data-type="video" data-id="1503002692245" data-site="503" data-station="tx-corpuschristi-KIII-B3364" data-playerid="6918249996581" data-autoplay="autoplay" data-api="prod"> </div> </div> <div class="ui-video-controls story-video story-priority-video"> <p class="video-desc" itemprop="description">A member of the Texas Railroad Commission who visited Corpus Christi Wednesday morning predicts that oil prices will rise above $60 a barrel by next year.<span class="credit"></span></p> </div> </div> </div> </section>  <section class="storytopbar-bucket story-byline-module"> <div class="asset-metabar"> <span itemprop="name" class="asset-metabar-author asset-metabar-item">Brian Burns, KIII</span> <span class="asset-metabar-time asset-metabar-item nobyline">7:21 PM. CDT August 16, 2017</span> </div> </section>  <div class="asset-double-wide double-wide p402_premium" role="main" itemprop="articleBody"> <div class="story-asset story-metadata-asset"> <div class="article-metadata-wrap"> <section class="storymetadata-bucket expandable-photo-module"> <aside itemprop="associatedMedia" itemscope="" itemtype="http://schema.org/ImageObject" class="single-photo expandable-collapsed"> <div class="image-wrap large-view"> <img class="expand-img-horiz" itemprop="url" src="https://web.archive.org/web/20170817030432im_/http://www.kiiitv.com/img/resize/content.kiiitv.com/photo/2017/08/16/port%20business_1502929253507_10280694_ver1.0.jpg?preset=534-401" alt="" data-mycapture-src="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/img/resize/content.kiiitv.com/photo/2017/08/16/port%20business_1502929253507_10280694_ver1.0.jpg?preset=534-401"> <span class="toggle"></span> <meta itemprop="name" content=""> </div> <div class="image-wrap small-view"> <img class="expand-img-horiz" itemprop="url" src="https://web.archive.org/web/20170817030432im_/http://www.kiiitv.com/img/resize/content.kiiitv.com/photo/2017/08/16/port%20business_1502929253507_10280694_ver1.0.jpg?preset=534-401" alt="" data-mycapture-src="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/img/resize/content.kiiitv.com/photo/2017/08/16/port%20business_1502929253507_10280694_ver1.0.jpg?preset=534-401"> </div> </aside> </section> </div> </div> <div class="story-asset inline-share-tools-asset mod-wrapper"> <div class="inline-share-tools asset-inline-share-tools asset-inline-share-tools-bottom"> <span class="inline-share-btn inline-share-btn-facebook share-button facebook" data-tealium-share="" data-tealium-tracker="inline_facebook"> <span class="inline-share-count inline-share-count-facebook"></span> <span class="inline-share-btn-label inline-share-btn-label-facebook">CONNECT</span> </span> <a class="inline-share-btn inline-share-btn-twitter share-button twitter" data-tealium-share="" data-tealium-tracker="inline_twitter"> <span class="inline-share-count inline-share-count-twitter"></span> <span class="inline-share-btn-label inline-share-btn-label-twitter">TWEET</span> </a> <a class="inline-share-btn inline-share-btn-linkedin share-button linkedin"> <span class="inline-share-count inline-share-count-linkedin"></span> <span class="inline-share-btn-label inline-share-btn-label-linkedin">LINKEDIN</span> </a> <a class="inline-share-btn inline-share-btn-googleplus share-button googleplus"> <span class="inline-share-count inline-share-count-googleplus"></span> <span class="inline-share-btn-label inline-share-btn-label-googleplus">GOOGLE+</span> </a> <a class="inline-share-btn inline-share-btn-pinterest share-button pinterest"> <span class="inline-share-count inline-share-count-pinterest"></span> <span class="inline-share-btn-label inline-share-btn-label-pinterest">PINTEREST</span> </a> </div> </div> <p><div>CORPUS CHRISTI (KIII NEWS) - A member of the Texas Railroad Commission who visited Corpus Christi Wednesday morning predicts that oil prices will rise above $60 a barrel by next year.</div> <div>  </div> <div> Railraod Commissioner Ryan Sitter said they are already issuing new drilling permits based on that estimate.</div> <div>  </div> <div> Sitter was visiting to show his and the State's support for the widening and improvements to the Corpus Christi ship channel. He toured the entire channel and explained where oil demand will be in the next several years.</div> <div>  </div> <div> "50-percent of the growth is going to come from Asia, so we've got to get our products to Asia," Sitter said. "And right now the Port of Corpus Christi is going to play a vital role in that. Not only because it's already a big liquid export facility, but because the geography where we are enables ease of construction of pipelines to bring products into this port."</div> <div>  </div> <div> Sitter said after improvements, the Port will become one of the biggest export ports in the nation.</div> <div>  </div> <div> "We're talking about going from a million barrels of crude oil a day to three million barrels of crude oil a day, which would be three-percent of the world's oil consumption. That will be tens of thousands of jobs all up and down the entire ship channel, and particularly right here in Corpus Christi."</div> <div>  </div> <div> The major improvements to the ship channel include dredging out the current 42-foot depth to 54 and widening the channel to 530 feet. That covers all 36 miles and includes the La Quinta Ship Channel.</div> <div>  </div> <div> Currently, the Port can handle million-barrel tankers. After the improvements and the new Harbor Bridge, the Port will be able to handle two-million barrel tankers.</div> <div>  </div> <div> Jarl Pedersen, Chief Commercial Officer with the Port, said businesses are ready to make investments based on the upgrades authorized by congress 11 years ago.</div> <div>  </div> <div> "In four years we'll have a new bridge. A year later, the old bridge will be taken down and we will be able to accommodate the largest vessels, because when the largest vessels are not filled, when they're coming in empty, they sit very high in the water."</div> <div>  </div> <div> They hope to begin the deepening and widening of the La Quinta ship channel within the next six months, and of course, have it done in five years when the new bridge is up and running.</div> </p> <p>漏 2017 KIII-TV</p> <div> <div class="story-asset inline-share-tools-asset mod-wrapper"> <div class="inline-share-tools asset-inline-share-tools asset-inline-share-tools-bottom"> <span class="inline-share-btn inline-share-btn-facebook share-button facebook" data-tealium-share="" data-tealium-tracker="inline_facebook"> <span class="inline-share-count inline-share-count-facebook"></span> <span class="inline-share-btn-label inline-share-btn-label-facebook">CONNECT</span> </span> <a class="inline-share-btn inline-share-btn-twitter share-button twitter" 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href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/new-water-rates/464668003" data-ht="topvideo1">New water rates</a> </h6> <div class="dvp-meta first"></div> </li> <li class="dvp-item "> <a class="dvp-image-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/copano-bay-fishing-pier-closing/464638636" data-ht="topvideo2"> <img src="https://web.archive.org/web/20170817030432im_/http://www.kiiitv.com/img/resize/kiii-download.edgesuite.net/video/2690779/2690779_Thumb.jpg?preset=inline-story" alt="Copano Bay fishing pier closing" class="dvp-thumb" height="84" width="84"> </a> <h6 class="dvp-headline "> <a class="video-thumb-headline-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/copano-bay-fishing-pier-closing/464638636" data-ht="topvideo2">Copano Bay fishing pier closing</a> </h6> <div class="dvp-meta "></div> </li> <li class="dvp-item "> <a class="dvp-image-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/solar-eclipse-what-you-need-to-know/464641002" data-ht="topvideo3"> <img src="https://web.archive.org/web/20170817030432im_/http://www.kiiitv.com/img/resize/kiii-download.edgesuite.net/video/2690795/2690795_Thumb.jpg?preset=inline-story" alt="Solar Eclipse: What you need to know" class="dvp-thumb" height="84" width="84"> </a> <h6 class="dvp-headline "> <a class="video-thumb-headline-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/solar-eclipse-what-you-need-to-know/464641002" data-ht="topvideo3">Solar Eclipse: What you need to know</a> </h6> <div class="dvp-meta "></div> </li> <li class="dvp-item "> <a class="dvp-image-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/district-court-rulings-impact-on-district-27/464723640" data-ht="topvideo4"> <img src="https://web.archive.org/web/20170817030432im_/http://www.kiiitv.com/img/resize/kiii-download.edgesuite.net/video/2691256/2691256_Thumb.jpg?preset=inline-story" alt="District Court rulings impact on District 27" class="dvp-thumb" height="84" width="84"> </a> <h6 class="dvp-headline "> <a class="video-thumb-headline-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/district-court-rulings-impact-on-district-27/464723640" data-ht="topvideo4">District Court rulings impact on District 27</a> </h6> <div class="dvp-meta "></div> </li> <li class="dvp-item "> <a class="dvp-image-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/police-respond-to-bomb-scare-/464723279" data-ht="topvideo5"> <img src="https://web.archive.org/web/20170817030432im_/http://www.kiiitv.com/img/resize/kiii-download.edgesuite.net/video/2691255/2691255_Thumb.jpg?preset=inline-story" alt="Police respond to bomb scare " class="dvp-thumb" height="84" width="84"> </a> <h6 class="dvp-headline "> <a class="video-thumb-headline-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/police-respond-to-bomb-scare-/464723279" data-ht="topvideo5">Police respond to bomb scare </a> </h6> <div class="dvp-meta "></div> </li> <li class="dvp-item "> <a class="dvp-image-link" href="https://web.archive.org/web/20170817030432/http://www.kiiitv.com/news/local/renaming-robert-e-lee-road-in-austin/464712374" data-ht="topvideo6"> <img src="https://web.archive.org/web/20170817030432im_/http://www.kiiitv.com/img/resize/kvue-download.edgesuite.net/video/2691189/2691189_Thumb.jpg?preset=inline-story" alt="Renaming Robert E. 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Texas Railroad Commissioner predicts rise in price of oil | KiiiTV.com