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01 04, 2018 by Chris John
“We are extremely pleased to see this administration and BOEM take offshore oil and gas development seriously and recognize that expanding access to other OCS areas is critical to our nation’s energy security and our economy.
Louisiana is a perfect example of how a robust offshore oil and gas industry can provide significant benefits to our local, state and national economies while at the same time balancing other stakeholder interests. The offshore industry has a $44 billion economic impact on the State of Louisiana. Combining the offshore sector with related pipeline and refining activities, the oil and gas industry has a $70 Billion total annual impact to Louisiana. According to the Department of Interior, it is believed that over $1 trillion in net economic value is associated with development of the Gulf of Mexico over the past 20 years and the federal government has collected over $150 billion in offshore revenues.
The Gulf of Mexico is an example of how our country can explore and produce American energy while also balancing the needs of other stakeholders such as some of the best hunting, fishing, wildlife watching and tourism. Louisiana’s success in effectively achieving that balance is a shining example of what the United States can achieve in other federal offshore areas. LMOGA looks forward to being part of the federal process to see increasing access become a reality on our path towards American energy dominance.”
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