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07 01, 2022 by LMOGA
The Louisiana Mid-Continent Oil & Gas Association (LMOGA) issued the following statement in response to the proposed development of a 5-year leasing program by the U.S. Department of Interior.
“While we are encouraged that the Department of Interior has finally recognized its obligation to develop a 5-year leasing program, we do not agree that the proposed program goes far enough to help meet energy demands and maintain our energy independence,” said Tommy Faucheux, LMOGA President. “Despite the announcement of a new plan, the DOI is still well-behind schedule in this multi-year regulatory process and the consequences for Louisiana and the Gulf Coast will be enormous.”
As found in an analysis released in May of this year, a lapse in a 5-Year Program would impact Louisiana more than any other state, costing thousands of jobs and millions in lost economic activity in Louisiana.
Offshore energy development and lease sales provide economic stability and energy security, providing jobs and wages to thousands of citizens, and helping to fund critical coastal restoration and hurricane protection projects that help make our communities safer and stronger.
“We hope the Administration recognizes that it's time for the rhetoric around high energy costs to match policy actions,” said Faucheux. “Promoting increased dependence on foreign oil threatens American jobs and deprives our state and local communities of much-needed revenue, all while likely increasing the risks of climate change and creating economic uncertainty when we need it most. We need support for domestic energy production so Louisiana's oil and natural gas industry can continue providing a stable supply of reliable and affordable energy”
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