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Business owners expect windfall after Schlitterbahn opens on Padre Island Corpus Christi

Business owners expect windfall after Schlitterbahn opens on Padre Island Corpus Christi | Texas Coast Real Estate | Scoop.it

This will be a project that the island, the entire community, will be proud of  said Jeff Henry Schlitterbahn.

Attractions:

  • Four “Master Blaster” uphill water coasters;
  • Three children’s areas;
  • A “Shoot The Chute” log ride, a first of its kind among Schlitterbahn parks;
  • A “Boogie Bahn” inland surfing ride;
  • Three heated swim-up bars for adults;
  • Two wave pools.

The $40 million resort on Padre Island will be the fifth water park for Schlitterbahn, whose deal with the city includes almost $120 million in grants during the next 25 years.

Family shot at Schlitterbahn

Schlitterbahn expects 300,000 visitors to come to the park each year.

The project also includes some lodging. Terri Adams, Schlitterbahn’s chief operating officer, said the park will feature “a number of” Treehaus luxury suites. She would not say if the company plans to negotiate with a hotel company for more beds or build a hotel itself.

Maybeth Christensen, executive coordinator of the Padre Isles Property Owners Association, said businesses generally continue to support the project, hoping it will touch off economic growth.

Corpus Christi in 2012 hosted 7.1 million visitors, who spent $1.1 billion on tourism-related purchases and services, said Colette Rye, communications director for the Corpus Christi Convention and Visitors Bureau. Some of that money eventually is used to make local improvements.

 

Jim Lee chairs the Department of Decision Sciences and Economics at Texas A&M University-Corpus Christi, and is studying the financial impact the water park and a host of other major development projects will have on the region.

Lee said he recognizes the project will be a boon to further development for an island community that still is without a full-scale grocery store.

“It’s a classic dilemma in economic development: More economic development often means an intrusion on nature,” Lee said. “Most residents choose to live on the island for its special lifestyle that is connected with nature. Ultimately, I think it boils down to the concept of smart growth, which is to preserve the quality of our lifestyle while allowing for more development.”

The project will be positive for the area in the long run leading to business growth of all kinds. It’s going to give the island a boost, especially in the summer time, making the island a destination place and first class resort for the Texas coast.

via Business owners expect windfall after Schlitterbahn opens on Padre Island

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The Property Buying Game Infographic

The Property Buying Game Infographic | Texas Coast Real Estate | Scoop.it

Are you looking to upgrade your home, downsize or buy a property for the first time? Our fun property buying game will help you understand it.

Michael Stuart's insight:

See the infographic

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Man rebuilds salvaged trailer into 200 sq. ft. tiny home, sells it on Craiglist

Man rebuilds salvaged trailer into 200 sq. ft. tiny home, sells it on Craiglist | Texas Coast Real Estate | Scoop.it
It doesn't seem like it, but this modern tiny home was once a regular trailer, and has been re-done as a tiny guesthouse.
Michael Stuart's insight:

more small home ideas for the remote parts of the Texas coast

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Home repair Cost vs Value Report and how You Can Beat It

Home repair Cost vs Value Report and how You Can Beat It | Texas Coast Real Estate | Scoop.it

Is it possible to profit with your home improvements? The Cost vs Value Report that is largely regarding as the benchmark for measuring the ROI on home improvements would lead you to believe that you won't be able to recoup your costs. Wouldn't that be a sad state of affairs?

Michael Stuart's insight:

home flippers make returns - follow what they do

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Affluent Apartment Renters Slow to Buy a Home

Affluent Apartment Renters Slow to Buy a Home | Texas Coast Real Estate | Scoop.it

By studying publicly traded apartment REITs who manage a combined 520,000 units, we have learned the following:

  • During the housing boom of the early to mid-2000s, roughly 1 in 5 renters leaving their apartment opted to purchase a home. In fact, the national homeownership rate peaked in 2004—at the same time that the percentage of those moving out to purchase a home was peaking.
  • Since 2008, the percentage of renters moving out to purchase a home has remained below its historical average of 17%, while the homeownership rate has continued to decline.
  • As of the fourth quarter of 2014, just 14.7% of all tenants moving out purchased a home. The homeownership rate declined to 64%, the lowest since the mid-90s.
Michael Stuart's insight:

When your apartment lease expires, you have two choices: to renew or move out. Each quarter we track the percentage of residents who move out of an apartment to purchase a home. (Other reasons for moving out can include a job change, eviction, or rent rising too high). 

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Texas Baby Boomer Aging may flood Texas Real Estate on the coast

Texas Baby Boomer Aging may flood Texas Real Estate on the coast | Texas Coast Real Estate | Scoop.it

As more baby boomers reach retirement age, the growth in elderly populations has a big impact on the Texas real estate markets. 


Elderly housing markets in Texas will expand in the coming years. Texas’ total population is projected to increase from the 25.1 million that it was in 2010 to 55.2 25 million by 2050, an increase of 119.5 percent.


Data on tourism regions from 1970 to 2010 show the most extensive growth in elderly populations in the Prairies and Lakes region (which includes the Dallas-Fort WorthArlington metropolitan area), followed by the Gulf Coast (which includes the HoustonSugar Land-Baytown metropolitan area), followed by South Texas.

Michael Stuart's insight:

The elderly fleeing large metropolitan areas have been congregating in micropolitan and rural counties with special climatic and other natural amenities like the hill country and the Texas coast. 


For tourism regions, growth follows the general patterns with more than 680,000 elderly migrants to the Prairies and Lakes areas, nearly 395,000 to the Gulf Coast, 289,000 to the Hill Country, and more than 223,000 to the Piney Woods.


See report: http://www.recenter.tamu.edu/pdf/2088.pdf 

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Popular real estate destinations for second homes and how to leverage the intel | Inman

Popular real estate destinations for second homes and how to leverage the intel | Inman | Texas Coast Real Estate | Scoop.it

Everyone knows that warm-weather climates attract vacation homes, but not every broker is located in a sunny situation.


Each area of the United States has its own popular vacation destination, and knowing this can help you get a leg up on the competition and guide second-home purchasers in the right direction.

Michael Stuart's insight:

If the client is a Texan, chances are they are looking for something on the Gulf of Mexico. The "hotspots" on the Texas coast include Port Aransas and Crystal Beach.


Of all homes bought in the South, 41 percent are purchased with the intent of using them as a vacation home. 

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Gulf Of Mexico Poised For Oil And Gas Production Growth

Gulf Of Mexico Poised For Oil And Gas Production Growth | Texas Coast Real Estate | Scoop.it

The Gulf of Mexico (GOM) accounts for the majority of oil and gas production on the Outer Continental Shelf (OCS). On March 2, 2015, the Bureau of Ocean Energy Management (BOEM) announced that its proposed Gulf of Mexico (GOM) Lease Sale 246 would offer all available unleased areas in the Western GOM Planning Area for oil and gas activity.

Michael Stuart's insight:

Approximately 21.8 million acres located 9-250 miles offshore Texas in water depths ranging from 16 to more than 10, 975 feet. Renewed industry interest – evident from the recent upturn in GOM projects – and the DOI’s priority for GOM development in its proposed 2017-2022 program will help revive the region’s offshore oil and gas production. 


In addition to domestic offshore development, partnerships may begin at the U.S.-Mexico border. Mexico made constitutional amendments in December 2013 and enacted secondary legislation in August 2014 that opened oil and natural gas markets to foreign investments, including investments that are active in the GOM OCS.


Opening of Mexican waters could facilitate long-term expansion of U.S.-Mexico energy trade and provide opportunities for U.S. companies, while there is a possibility for a shift in investment focus from the U.S. OCS to Mexican waters.

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Floating Homes for Texas Coast?

Floating Homes for Texas Coast? | Texas Coast Real Estate | Scoop.it
The 1000-square-foot floating pod-shaped home measures 40 feet in diameter and 14 feet tall. Its curved body is constructed from recycled glued laminated timber atop a recycled aluminum hull. It is self=powered by a roof mounted, 600 square foot solar display that generates 4 kW of electricity. The solar panels are framed by generously sized skylights on either side. Large windows and balconies wrap around the unit to give users to unobstructed views of the water. The glazing also lets in plenty of sunshine to light the interior.
Michael Stuart's insight:

The WaterNest 100 seems to embody that philosophy perfectly and is a truly inspired representation of what an environmentally friendly home of the future could look like on Texas coast

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Construction booms across Port Aransas

Construction booms across Port Aransas | Texas Coast Real Estate | Scoop.it

Construction continues to steam along in Port Aransas. City records show  development moving at a brisk rate.

Port Aransas is “a solid, healthy market with willing sellers and willing buyers,” Local Developer Lorette said. “These are individuals, people wanting to have a part of Port Aransas and come and enjoy it”.

Many buyers are longtime Port Aransas residents who see a strengthening economy happening all around them.“ They see prices going up and figure, if we’re going to buy something else, we’d better do it now.”

  • The Port Aransas real estate market is growing increasingly attractive to the San Antonio market. The South Padre Island market still is strong, but it’s not as attractive to San Antonio as it used to be. “You can’t go have fun in Mexico, because it’s not safe,” Lorette said.
  • Another Port Aransas growth factor lies in the fact that more and more people are moving to Texas and discovering Port Aransas. And many Houston area residents decided they like Port Aransas after visiting Mustang Island instead of Galveston in the wake of Hurricane Ike, which struck the northern Texas coast in 2008.
  • Port Aransas is attractive partly because it still contains relatively inexpensive property that’s close to the beach, compared to Florida, California and other coastal locations around the U.S.

Oil money is a big part of what’s driving the market, both directly and indirectly. Across South Texas, Eagle Ford shale gas and oil drilling has produced billions of dollars in wealth in the past several years. Many who have profited from the frenzied drilling are just now finding the time to take some time off and spend some serious time in Port Aransas.

Customers coming from Austin and San Antonio, that whole area,” said Harris, owner of Bay Area Title and Brite Star Construction. “They love Port Aransas, and they want to be in Port Aransas. We’ve seen a huge increase in traffic looking to buy property.” People see Port Aransas real estate as a safe investment, he said.

  • “It’s an investor’s dream, because you can use it part of the time and rent it when you’re not here,” Harris said.
  • Most new owners of short-term rental properties in Port Aransas never have to dip into their existing funds to make mortgage payments because rental income takes care of it, he said. Harris said he knows some folks who are a year ahead on payments right now.

The development firm of Koontz McCombs began construction on Village North, a residential development planned within the newly named Newport Dunes at Palmilla Beach golf course.

Further south down The Island Road, construction is underway on Two Town Center, a 15-unit condominium at the popular Cinnamon Shore development, said Lee Ann Peters, sales director at Cinnamon Shore.

Eighteen single-family homes also are under construction at Cinnamon Shore, Peters said.  A $1 million community swimming pool complex opened last spring at Cinnamon Shore. It’s the development’s second such pool.

Via http://www.portasouthjetty.com/news/2013-05-30/Front_Page/Construction_booms_across_Port_Aransas.html

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Boomers Homes Are Again Their Castles

Boomers Homes Are Again Their Castles | Texas Coast Real Estate | Scoop.it

A new study looks at the relationship older Americans have with their homes, and finds some surprises.  a new survey and report sponsored by Merrill Lynch finds that a broad cross-section of older Americans are eagerly looking forward to new adventures and, especially, freedoms, in their later years.


According to the study, nearly two-thirds of retirees say they are now living in the “best home of their lives” and making active efforts to create living spaces that match their new retirement lifestyles. Nearly as many say they are likely to move during their retirement years, and most of this group has already relocated once.

Michael Stuart's insight:

Only one in six retirees who moved last year wound up in a different state, emphasizing the strong attachments that boomers have to their existing communities.


Among future retirees, 60% say they expect to stay in their current state while 40% want to explore other parts of the country.

From their 60s to their late 70’s, people “think of this as a great time and a time of great freedom.


That fits the new communities on the Texas coast to a tee!

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6 Jobs You Can Do Anywhere

6 Jobs You Can Do Anywhere | Texas Coast Real Estate | Scoop.it

There are some remote jobs that can be accomplished anywhere with Internet access (Texas Coast).

Michael Stuart's insight:

Corpus Christi, Port Aransas and Galveston are ideal beach virtual workplaces or inspiration and innovation.

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Some Port Aransas residents see spike in electric bills

Some Port Aransas residents see spike in electric bills | Texas Coast Real Estate | Scoop.it

Residents in Port Aransas have noticed a rise in their monthly electric bills.Doris Scoville saw her electric bill rise from $205 one month to $457 

Michael Stuart's insight:

Other residents in Port Aransas have complained about the same thing. Add-on fees?


Video: http://www.kristv.com/clip/11133995/some-port-aransas-homeowners-unhappy-about-rising-electric-bills

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This Week In Energy: Is Oil Back?

This Week In Energy: Is Oil Back? | Texas Coast Real Estate | Scoop.it

Oil Prices are flirting with a rebound, poised to jump the most in four years for the week ending on February 6. The markets do not know what to make of the current pricing situation, as volatility is also at a multi-year high.


But major capital expenditure cuts from the big boys – billions of dollars are set to be slashed by ExxonMobil (NYSE: XOM), Royal Dutch Shell (NYSE: RDS.A), Chevron (NYSE: CVX), ConocoPhillips (NYSE: COP), and BP (NYSE: BP) – are signaling that the bottom is coming into view.


Michael Stuart's insight:

Rig counts also continue to slide at a rapid clip. Oil prices took a pause mid-week, erasing much of their 19% gain after the EIA reported that oil inventories were at an 80-year high. But WTI and Brent posted further gains to close out the week, providing some serious evidence that a rally could be in the making.

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Incredible Photos: Is This Tiny Cabin Micro-Community the Future of Sustainable Living? » EcoWatch

Incredible Photos: Is This Tiny Cabin Micro-Community the Future of Sustainable Living? » EcoWatch | Texas Coast Real Estate | Scoop.it
A growing number of people are joining the tiny home movement, where people are downsizing their homes into something much smaller to reduce their environmental impact and live more simply.
Michael Stuart's insight:

According to Small House Bliss, when four couples purchased this stunning piece of property together, they initially set out to build one large house. Instead, they decided to build their own tiny cabin plus a shared area that has a kitchen, space for group meals and room for guests.

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This is one terrific steampunk teardrop trailer

This is one terrific steampunk teardrop trailer | Texas Coast Real Estate | Scoop.it
It has everything you need, including a chandelier.
Michael Stuart's insight:

Teardrop trailers are wonderful things, a classic aerodynamic design that slides through the air when you are towing it. 

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New upstarts look to carve paths against established giants

New upstarts look to carve paths against established giants | Texas Coast Real Estate | Scoop.it

Online real estate powerhouses like Redfin, Trulia and Zillow have been around for years, building multi-million dollar businesses in a category where the entrenched players avoid change.

Michael Stuart's insight:

real estate a huge industry that many entrepreneurs can relate to since so many have struggled either buying a home or finding an adequate rental property. “We’ve all had first-hand experience with different pain points in the process,” he said. “And that always attracts entrepreneurial interest.

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The Top 82 Must-Read Real Estate Blogs Of 2014

The Top 82 Must-Read Real Estate Blogs Of 2014 | Texas Coast Real Estate | Scoop.it
We've scoured the internet and made a list of 82 blogs every real estate investor should check out. Learn investment tips, trends and marketing strategies.
Michael Stuart's insight:

1. Redfin
This is a fantastic resource with loads of informative and actionable content, including everything from real estate news and analysis, to investment tips and advice. Bookmark this one.

2. Zillow
This is another great resource for agents, landlords and property managers alike. Loads of quality information from industry leaders that will keep you abreast of national real estate trends, and provide actionable strategies for selling and marketing your home.

3. MSN Real Estate
Stay up-to-date with the very latest real estate news and trends.

4. Memphis Invest
This blog focuses closely on smart investment strategies geared towards maximizing cash flow and passive income generation.

5. RealtyBizNews
A great resource for real estate news, home buying resources and real estate market analysis.

6. Trulia Blog
Another leader when it comes to the real estate industry. Get unique insights into housing data as well as actionable advice for real estate professionals. This one should definitely make it onto your Feedly list.

7. Realtor.com
These guys cover pretty much any topic related to real estate, from celebrity cribs to home decor tips.

8. RentBits
This blog provides information about the rental market. Especially helpful for tenants, property managers and real estate agents.  9. Movoto
They tout themselves as the lighter side of real estate. This places a fun twist on real estate news and events. Their top 10 places lists are very popular.

10. MSNBC Business
Breaking industry news and opinions from industry experts.

11. CNN Money
This blog takes a more personal look at finances, but includes some helpful information for investors and new home buyers.
12. Bigger Pocket

If there was one blog I could read, this would be it. It answers pretty every real estate question you could imagine with insights from a number of industry experts.

13. Bawldguy

Get an insight look at a number of proven real estate investment strategies.

14. Flippingjunkie
Take a look over the shoulder of Danny Johnson as he shows you how to make money flipping houses.

15. Real Estate In Your Twenties
This is the personal investment blog of Bigger Pockets’ Brandon Turner. Sit back as he teaches you everything he knows about real estate investment.

16. Big Rock Investments
Some helpful investment tips and industry information to help you make smarter business decisions.

17. Blood Hound Realty
A group of real estate investors located in Phoenix, Arizona. These guys provides helpful investment tips and relocation advice.

18. RETipster
The title says it all – real world guidance for part-time real estate investors. Get boat loads of actionable marketing advice. A great read!

19. Hassle Free Cash Flow Investing
David Campbell is an industry guru when it comes to real estate investing and cashflow generation. Follow his creative investment strategies as he uncovers emerging market opportunities.

20. Flipping Smart
Learn how to flip houses the right way, and make a ton of money.


see more http://jacobgrant.com/2014/05/top-87-real-estate-blogs-need-read/ 

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How Conservative Texas Took The Lead in U.S. Wind Power

How Conservative Texas Took The Lead in U.S. Wind Power | Texas Coast Real Estate | Scoop.it
Innovative government policies have helped propel Texas into the forefront of wind energy generation in the U.S. But the main impetus for the Lone Star State’s flourishing wind sector is the revenue it has generated for landowners and local communities.
Michael Stuart's insight:

The steady expansion of RES Americas in Texas mirrors a surge in wind energy production in a state better known for its oil and gas booms, its conservative politics, and its skepticism about human-caused climate change than for its flourishing renewable energy sector. As it turns out, though, Texas now leads the United States in wind power production.


Today, Texas’ wind energy sector continues to grow, spreading from West Texas to the Gulf of Mexico.

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Two more LNG projects (Billions) proposed for the Texas Gulf Coast

More than two dozen projects nationwide are waiting on federal approval to export liquefied natural gas overseas. Two more projects in Texas are joining that group.
Michael Stuart's insight:

Sempra Energy, based in San Diego, has proposed converting an existing facility in Port Arthur.


Next Decade, based in The Woodlands, Texas, seeks to build a new $8 billion export plant in Brownsville.

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Why this room is now a must-have home feature

Why this room is now a must-have home feature | Texas Coast Real Estate | Scoop.it

With mobile technology, it’s easy to work in any room of a house. But designers and home builders say more homeowners want to concentrate their work in one home-office space. 77% of people surveyed by John Burns said that any additional rooms not dedicated as bedrooms would be used as an office in their next home — the most popular response. 

Michael Stuart's insight:

Dedicated office space might not always be a full room. In fact, it might be a nook with desk space on the landing of a staircase or a corner of a bedroom or family room. But as people do more work away from the office and kids do more work outside of the library, the home office is growing in importance.

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North Padre Development Adjacent to New Corpus Christi Schlitterbahn - Labor Day '15 Completion

North Padre Development Adjacent to New Corpus Christi Schlitterbahn - Labor Day '15 Completion | Texas Coast Real Estate | Scoop.it

The North Padre Development Tracts are situated in a prime location on North Padre Island in Corpus Christi, Texas.

The subject site has the only private beach (only pedestrian traffic permitted) in the region with over 1,200 feet of beach frontage. The site is the last remaining beachfront 50+ acre development property available on North Padre Island (Nueces County) and is +/- 1 mile away from the new Schlitterbahn waterpark under construction with a scheduled completion of Labor Day 2015.
 

Michael Stuart's insight:
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Grow Texas: Why Texas is open for business - San Antonio Business Journal

Grow Texas: Why Texas is open for business - San Antonio Business Journal | Texas Coast Real Estate | Scoop.it
In looking at the four largest Texas regions — Houston, Dallas, San Antonio and Austin — each has its own unique features and economic drivers, while all share common threads that make Texas appealing for businesses.
Michael Stuart's insight:

Some of the key drivers are: business friendly environment, quality of life, availability of a skilled talent pool, low cost of living, low tax burden, the absence of a state income tax, a strong diverse economy, and a central location with easy international access.

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Brokerages and Builders Report Soaring Revenues

Brokerages and Builders Report Soaring Revenues | Texas Coast Real Estate | Scoop.it

The end of 2014 proved to be profitable for many brokerages, and the outlook for some builders, and the outlook for some builders in 2015 is also looking rosy. T


oll Brothers Inc., the largest luxury home builder in the country, reported that it has seen its profit surge in the first quarter of this year by 78 percent from higher home sales and prices. Also, the home-builder has upped its full-year delivery and pricing expectations due to increasing home buyer demand.

Michael Stuart's insight:

The key contributors the high-end of the housing market. Looking ahead, the more than 1.6 million new household formations reported by the U.S. Census Bureau last year, which supports an increase in long-term demand for housing.

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South Padre Island - The Shores

South Padre Island - The Shores | Texas Coast Real Estate | Scoop.it

Dennis Franke is counting on a new causeway and an economic upturn to help revive development of his upscale community at the edge of South Padre Island’s promising northern stretch.

Michael Stuart's insight:

A planned 8-mile causeway that would connect near Holly Beach about 1 1/2 miles from the development would help transform the Island’s northern tract, said Franke, whose family helped develop South Padre Island.

“We will probably drive that bridge in five or six years,” he said. “That will be a huge benefit. It will get people excited about building farther north and expand the Island.”

Franke said the nation’s economic recovery would help him complete the project.

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Gulf of Mexico energy industry humming despite low oil prices, could see drilling lull in coming years

Gulf of Mexico energy industry humming despite low oil prices, could see drilling lull in coming years | Texas Coast Real Estate | Scoop.it
Deflated oil prices are forcing companies to shut down drilling rigs in North Dakota and Texas, taking jobs with them as they go. Analysts say the industry outlook is less gloomy for Gulf of Mexico oilfields off the Louisiana coast. At least for now.
Michael Stuart's insight:

Gulf operators are gearing up for a surge in production this year. Oil output from federal waters is expected to hit 1.55 million barrels per day in 2015, on par with the region's 2009 historic high, according to government estimates. Production is expected to jump to 1.65 million in 2016.

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