Houston's exports to China have been growing more than 26 percent a year for the last five years, in part because of the increasing amount of oil sent to China. But the current trade spat with the US could interrupt that growth and hurt the city, says the president and CEO of Greater Houston Partnership.
"We are not only looking at crude oil but also refined products, more importantly, liquefied natural gas (LNG). China has announced its strategy to convert energy consumption from coal to gas. There are a lot of opportunities for Houston to strengthen that relationship with China. That could be upset by the dispute," said Bob Harvey.
Harvey discussed the issue with China Daily on Tuesday at a spinoff event of Select USA. A group of Chinese officials and business executives, led by Lu Jian, division director at the Department of Commerce of Jiangsu, met with local business leaders to exchange information and seek cooperative opportunities.
Harvey said that in the last two years oil production in Texas has been growing, making the state the leading crude oil producer and exporter in the US.