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Wall Street Journal Says Beaumont Port Arthur has best performing market in the Nation

Wall Street Journal Says Beaumont Port Arthur has best performing market in the Nation 

The Energy capital profits and the billions in refinery exapnsions are taking hold and is good news for Bolivar Peninsula Second Home Market.



Groundbreaking ceremonies were held in December 2007 for a $7 billion expansion of Motiva Enterprises' local refinery.

The project will double the plant's output to 600,000 barrels per day, making it the nation's largest oil refinery.

"U.S. energy demand will increase by 23 percent between 2005 and 2030, with a 19 percent increase in the demand for oil and other liquid fuels," U.S. Energy Secretary Samuel Bodman said during the ceremony.

This refinery expansion is the largest capital project ever in Texas, said Secretary of State Phil Wilson. The project will create 4,500 construction jobs and 300 permanent jobs, for which Motiva has already begun hiring.

Motiva is a joint venture between Royal Dutch Shell and Saudi Aramco. The expansion is expected to be completed by 2010.

The Bolivar Peninsula is an emerging hotspot and this local large energy capital investment is one reason. Port Arthur and Beaumont is the primary buyer and rental market for Bolivar Peninsula second homes.

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