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01 21, 2021 by LMOGA
The Louisiana Mid-Continent Oil & Gas Association (LMOGA) made the following statements today in response to the 60-day moratorium on issuing oil and gas leases, contracts and drilling permits on federal lands and waters:
“Any ban on federal leasing will have devastating impacts on Louisiana, threatening American energy security, hindering much needed economic growth, and undermining environmental progress,” said Tyler Gray, LMOGA President. “Restricting offshore energy development is backwards policy that only harms the livelihoods of thousands of Louisiana families and the communities that depend on industry tax revenues for critical operating resources for local governments, and protection and resiliency of our coast.”
A recent analysis from the American Petroleum Institute (API) and LMOGA warning of negative consequences from a proposed ban on federal leasing on natural gas and oil development on public lands and waters, projected the Gulf Coast region would be among the hardest-hit areas with 48,000 job losses in Louisiana alone by 2022. In addition, the analysis showed that environmental progress would be stalled with coal use increasing 15 percent by 2030 and CO2 emissions increasing by an average of 58 million metric tons (MMT) to represent a 5.5 percent increase in the power sector by 2030.
Click here for more info on how leasing and development bans threaten Louisiana.
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