The 2014 U.S. Senate election in Louisiana will be held Nov. 4 and Republican Rep. Bill Cassidy is challenging incumbent Democrat Sen. Mary Landrieu. Cassidy has served as representative for Louisiana’s 6th Congressional District since 2009. BIC Magazine recently spoke to Rep. Cassidy to learn more about his energy-related agenda, the Obama Administration’s “troublesome” regulations and how the industry will benefit if Republicans take control of the Senate.
BIC: In summary, what is your energy-related agenda for the 2014 election?
CASSIDY: On the campaign trail, I emphasize that in the House of Representatives I have introduced and/or supported legislation to: require an external review of EPA regulations with a projected cost of $1 billion to the economy; increase Louisiana’s share of royalty payments from oil and gas extraction in the Outer Continental Shelf (OCS) and to incentivize OCS development elsewhere; approve building of the Keystone XL pipeline; expedite construction of LNG export terminals; and incentivize the use of natural gas as a transportation fuel.
BIC: Do you support or oppose the export of domestically produced crude oil?
CASSIDY: Under World Trade Organization rules, the U.S. cannot limit the export of crude from Canadian tar sands. Although technically not domestic, it is refined in American refineries and therefore its exportation helps relieve a domestic oversupply. That said, the production from Eagle Ford Shale and other fields, including the Tuscaloosa Marine Shale, may overwhelm the U.S. refining capacity. As this is light, sweet crude, the sophistication of Gulf Coast refineries is not required. Additionally, if the oversupply of this crude is too great, it may decrease production and thereby hurt job growth, or potentially decrease jobs in exploration and production fields. A way forward is to explore keeping Canadian oil production in the U.S. and exporting light, sweet crude until additional refining capacity can be developed.
BIC: With the current administration, what regulations have been put in place to benefit the oil and gas industry?
CASSIDY: The Obama Administration hasn’t done much, if anything, to benefit the oil and gas industry. Its hostility toward oil and gas jobs is evident by its overreaching policies. Even things, which on the surface seem good, with closer examination are troublesome. For example, the DOE’s proposal to “streamline” the approval process for the licensing of LNG export terminals creates the potential for left-wing environ-mental groups to have standing to object to LNG exportation based on climate change.
BIC: What are energy policies that to you seem effective and politically achievable?
CASSIDY: To say anything significant can be achieved to promote oil and gas jobs and energy development pre-supposes that Republicans take control of the Senate. Nothing of significance occurs otherwise. That said, if Republicans do take control of the Senate, things which will be pursued and can pass include: approval of the Keystone XL pipeline; expedited permitting of LNG export terminals; pro-motion of natural gas as a transportation fuel; expanded drilling on federal lands; and reining in of the EPA’s agenda. With a Republican majority in the Senate, there is no reason why these things, through direct legislation and through riders on appropriation bills, cannot be achieved.
For more information, visit www.billcassidy.com or call (225) 302-7482.
Sen. Mary Landrieu (D-La.) is running for her fourth term in the U.S. Senate. BIC Magazine ran a feature article on Sen. Landrieu last month.
