The oil and natural gas industry has been the leading economic driver for Louisiana for more than a century, and its energy sector is a pivotal resource for the Gulf Coast region and even the world.
We are proud to produce American-made energy right here in our local communities that support global demand and strengthen our nation’s energy security.
Louisiana is positioned to have an opportunity to capitalize on changing global marketplace demand and lead the future of energy by bringing online new advancements in the industry such as carbon capture and storage (CCS), blue and green hydrogen and renewable diesel.
This does not mean we are replacing O&G. Instead, we are creating additional processes that allow us to enhance and expand our current infrastructure while lowering emissions and increasing efficiency to meet the world’s future energy demand. O&G will continue to supply the majority of the world’s energy needs for decades to come. According to the International Energy Agency — a Paris-based autonomous intergovernmental organization providing policy recommendations, analysis and data on the global energy sector — O&G will provide 46% of energy worldwide — nearly half the world’s energy in 2040, even if every nation meets the environmental goals of the Paris Climate Agreement.
At the same time, processes such as CCS could create thousands of new jobs, expand on environmental progress at our manufacturing and energy facilities and generate more revenue for Louisiana. This technology provides a viable pathway for the decarbonization and continued operation of existing industrial, manufacturing and energy facilities, preventing facility closures and securing the jobs and livelihoods of thousands of Louisiana workers.
The Great Plains Institute, an organization of leaders and experts engaging and collaborating with people, organizations and communities to craft nonpartisan, pragmatic energy solutions for the benefit of the economy and environment, published its findings that Louisiana has the opportunity to create an annual average of up to 4,920 project jobs over a 15-year period, and 2,500 ongoing operations jobs through the deployment of CCS at 33 industrial and power facilities across the state. Along with the development of CO2 transport infrastructure, CCS could generate up to $13.7 billion in private investment in Louisiana.
Louisiana is a key location for renewable energy investment and innovation, with more than $18 billion in projects announced for carbon capture, renewable biofuels, blue and green production of hydrogen and ammonia and advanced recycling operations. Investing in new technology and innovation in conjunction with existing O&G development supports our goal of meeting the world’s growing need for energy while also advancing the goal of achieving a lower-carbon future.
New energy opportunities help Louisiana companies continue to operate in the state, thus retaining and growing hundreds of thousands of jobs. Through these new energy processes, Louisiana’s industry will continue to successfully compete for customers and investments, supporting the state and its local economies.
Louisiana is poised to potentially find itself at the forefront of the next generation of energy and maintain our place as an energy-rich state. Industry, science and communities are working together to make things happen across our state and across the nation to meet America’s energy needs in a multitude of ways that will help maintain and create Louisiana jobs, strengthen our economy and benefit the environment.
LMOGA’s mission is to promote and represent the oil and gas industry operating in Louisiana and the Gulf of Mexico by extending representation of its members to the Louisiana Legislature, state and federal regulatory agencies, the Louisiana congressional delegation, the media and the general public.
For more information, visit lmoga.com or call (225) 387-3205.
