Comment of the Day: Sizing Up Houston’s Refinery Boom

01/26/16 2:00pm

Comment of the Day: Sizing Up Houston’s Refinery Boom

COMMENT OF THE DAY: SIZING UP HOUSTON’S REFINERY BOOM ” . . . The total investment ongoing in the Petrochemical complex is about $50 billion. 1000 Main sold in 2014 (after the crash was underway) for $0.5 billion. There are about 50 skyscrapers in downtown. Therefore, with the investment ongoing in the Petro complex, we could rebuild downtown Houston twice with only our classiest of class A skyscrapers.” [awp, commenting on A Tale of 2 Houstons During the Oil Bust; Inside 500 Crawford] Illustration: Lulu

Comments, Refineries, Skyscrapers

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5 Comment

Commenter7 January 26, 2016 at 5:43 pm

Refineries are boring, though.
anon22 January 26, 2016 at 7:24 pm

What does “investment ongoing” mean in this scenario?
Mr.Clean19 January 26, 2016 at 7:34 pm

You take that back Commenter7. Buildings are the equivalent of steel structures that support process facilities.
Memebag January 27, 2016 at 9:52 am

All refineries need is a little ground floor retail.
awp January 28, 2016 at 9:54 am

anon22,

My dataset (from the Baytown Economic Development Foundation) tracks heavy industrial projects in the metro area that have broken ground with completion dates from 2015-2021 (although three fifths of the value completes in 2017-2018 and four fifths in 2015-2018).