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Request a DemoFAUCHEUX: Louisiana needs predictable federal energy policy
Louisiana is an energy state and an essential player in America’s energy story. For more than a century, the Louisiana oil and natural gas industry has contributed to the economic success of our nation, and supported our national security.
Today, we are at the forefront of a new generation of energy production as the world seeks to decarbonize. A key player in the global energy economy, Louisiana industry creates jobs here at home, generates revenue for parishes and supports economic development across the state.
Louisiana energy is something our nation and our communities cannot live without. Because of this undeniable truth, we need a strong, predictable national energy policy.
Recently, we have seen an unprecedented change in federal policy that has led to uncertainty for Louisiana’s oil and natural gas industry. Last year, the federal government allowed the first-ever lapse in the country’s five-year offshore leasing plan.
Once released, the plan created a restrictive offshore leasing program that compromises U.S. producers’ ability to provide affordable, reliable energy to Americans. In Louisiana, revenue generated from the offshore oil and natural gas industry provides a lifeline to important environmental priorities and coastal protection and restoration programs, as well as critical funding for coastal communities that depend on energy revenues to fund vital government services.
We have also witnessed an attempt to pause future liquified natural gas permits. Louisiana LNG companies currently export natural gas to countries and allies around the world, including some that are impacted by the recent war in Ukraine. All the while Louisiana refineries continue to face immense regulatory pressure at the federal level in an anti-fossil fuel environment.
When it comes to decarbonization, Louisiana has made significant strides. Industry is playing a leading role in global efforts to reduce carbon emissions. The EPA recently granted Louisiana primary authority over Class VI injection wells for carbon capture storage, positioning Louisiana as a national leader in CCS.
This fits well with Louisiana industry’s other investments in low-carbon technologies such as the production of biofuels and hydrogen. These Louisiana investments, coupled with additional investments in the production and transport of natural gas, should make Louisiana an example of all that is possible as the world seeks to meet growing energy demands and reduce carbon emissions.
In 2025, we need policymakers in Washington D.C. to once and for all write energy policy that makes sense for America. It should be a policy that responds to the needs of this country and the world.
We need a strategy that doesn’t turn its back on the Louisiana oil and natural gas producers that drive today’s economy, and instead recognizes the fact that these same companies will lead the global decarbonization effort. A strong, predictable federal energy policy, that allows us to continue producing low-carbon oil and natural gas while allowing us to innovate and explore new carbon-reducing technologies, will create opportunities for Louisiana energy companies to capitalize on changing marketplace demands, make investments for the future and continue the tradition of being a leading energy state that America and the world needs.
Tommy Faucheux is president of the Louisiana Mid-Continent Oil and Gas Association, a trade association representing all sectors of the oil and gas industry operating in Louisiana and the Gulf of Mexico.
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