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When an outsider thinks of southeast Louisiana staples, fishing our areas bayous, swamps and ponds comes to mind. The wonderfully delicious seafood our area provides certainly comes up. And who doesn’t love a trip to French Quarter – the heart of one of America’s most cultured cities?
But maybe the most important element of southeast Louisiana is one that largely goes unnoticed to the outside world – our vibrant and booming oil and gas industry.
Houma-Thibodaux's income and tax collections rely primarily on offshore oil and gas exploration, production and service.
Terrebonne Parish derives some $558 million in annual earnings directly from the oil and gas industry. This doesn't account for all the ancillary shipbuilding, mud mixing and construction operations that also pump up Houma-Thibodaux's economy.
CITGO continued "Caring for Our Coast" and partnered with the Coalition to Restore Coastal Louisiana (CRCL) to host what is known as the largest volunteer-based restoration project in the region. Volunteers from Calcasieu and Cameron parish came out to Holly Beach Saturday and planted 70,000 dune grass plugs along a five-mile stretch of beach to promote sand along the coast.
"The coast is critical to current business, and it's critical to future business," said CRCL's Kimberly Davis Reyher. "We can find opportunities. We can find a restoration economy as we figure out how to get our land back and perhaps even reach out and teach others."
Cheniere Energy is boosting its investment in its Sabine Pass liquefied natural gas export facility in Cameron Parish by $6 billion to build two production units in addition to the four already under construction.
The value of Louisiana’s oil and gas industry is clear to the men and women of our state who proudly report to work each day at rigs, refineries, pipelines, shipyards and fabrication yards. As a result of their hard work fueling America, they earn salaries that are some of the highest in the state, allowing them to make a good living for their families and make purchases from other local businesses like grocery stores, restaurants and car dealerships. It’s a wave of economic impact that is very familiar to those of us who work or have family members who work in the industry.
Earlier this year, Louisiana Mid-Continent Oil and Gas Association (LMOGA) and the Grow Louisiana Coalition set out to quantify the economic impact of Louisiana’s energy sector on the state as a whole. Do communities beyond traditional energy centers like Baton Rouge, Lafayette, Houma and Lake Charles share in the benefits? According to results of a study released in July, the answer is a resounding, “Yes!”