LMOGA on Subcommittee on Energy and Mineral Resources Hearing

01 20, 2022 by LMOGA

The Louisiana Mid-Continent Oil & Gas Association (LMOGA) issued the following statement regarding the Subcommittee on Energy and Mineral Resources remote oversight hearing titled, “What More Gulf of Mexico Oil and Gas Leasing Means for Achieving U.S. Climate Targets.”

“Gulf of Mexico (GOM) production generates 16% of the nation’s energy with one of the lowest carbon footprints of any basin in the world and is an integral part of meeting our climate goals and consumer energy demands,” said Tommy Faucheux, LMOGA President. “GOM energy development and lease sales not only create jobs for thousands of citizens, but the revenues generated provide critical funding for local communities and citizens to have access to education, highways and police protection, as well as funding for coastal restoration and hurricane protection projects.”

“The administration needs to recognize that 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,” said Faucheux. “We strongly urge the Administration to continue leasing in the OCS and the development of a new 5-year plan with dedicated regular lease sales so these important benefits can continue.”