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09 29, 2023 by LMOGA
The Louisiana Mid-Continent Oil & Gas Association (LMOGA) today released the following statement from President Tommy Faucheux on the Biden administration's long-delayed release of a final five-year program for federal offshore leasing:
“The restrictive offshore leasing program proposed by the Department of Interior puts U.S. energy security at risk and compromises U.S. producers’ ability to provide affordable, reliable energy to the American people. Independent analysis shows that oil and natural gas are going to play an important role in fulfilling U.S. energy needs for the foreseeable future. This approach to energy policy will hinder investment in the least carbon intensive oil and gas region in the world, therefore shifting energy development to other parts of the world resulting in higher global emissions and increasing our nation’s dependence on foreign energy supplies.”
“In Louisiana, revenue generated from the offshore oil and natural gas industry provides a lifeline to important environmental priorities and coastal protection and restoration programs, as well as critical funding for coastal communities that depend on energy revenues to fund vital services like education, health care, police and fire protection, and highways and infrastructure. Policies that limit offshore energy development will negatively impact Gulf Coast communities, our economic prosperity, and consumers access to affordable energy.”
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