LMOGA on U.S. Senate Energy and Climate Policy Deal

The Louisiana Mid-Continent Oil & Gas Association (LMOGA) issued the following statement after the details of an energy and climate policy deal between Senator Joe Manchin (D-WV) and Senate Majority Chuck Schumer (D-NY) were released.

“While we are still reviewing the Inflation Reduction Act of 2022, LMOGA is encouraged by Senate Majority Leader Chuck Schumer and Senator Joe Manchin’s efforts to protect American energy security and reduce emissions,” said LMOGA President Tommy Faucheux. “LMOGA welcomes the positive progress on Gulf of Mexico lease sales and the inclusion of provisions that address the energy transition, creating more operational certainty for our industry and encouraging continued investment in low carbon solutions, such as carbon capture and sequestration.”

“While the improved energy and climate provisions are reassuring, we remain cautious about any tax policies that may hinder long term investments,” said Faucheux. “Louisiana and the Gulf of Mexico are uniquely positioned to provide affordable, reliable, secure energy to meet American needs, while simultaneously reducing our carbon footprint. Our industry stands ready to work together with all parties towards common sense policies that support our climate goals and domestic energy production.”