Energy Infrastructure Investments Continue to Promote Economic Development

Yesterday, the Hayride reported on Louisiana Economic Development’s recent announcement of a $2.5 billion crude oil pipeline and export terminal project in Plaquemines Parish. The project will be completed by Tallgrass Energy LP and Drexel Hamilton Infrastructure, with assistance from the Plaquemines Port Harbor and Terminal District. Public-private partnerships have continued to be the backbone of industry and infrastructure growth. This news comes at a critical time, as the U.S. currently faces a major energy infrastructure shortage.

In addition to its vital contributions to the energy industry and providing safe, efficient transport of crude oil, the 700-mile pipeline project will create 35 permanent jobs, as well as 1,250 construction jobs. The Hayride emphasizes the importance of pipeline development and its role in the parish & state economy:

Plaquemines Parish, known as an oil and gas parish, recently saw a stumble in employment as certain jobs – particularly drilling and exploration jobs connected to offshore oil production which has stagnated in recent years, were no longer needed. Not only will this project create new jobs, the economic benefits are expected to more than compensate for the state and parish alike.

After a statewide GDP slump in Louisiana for the past two years (minus-0.2 percent in 2017 and minus-0.4 percent rate in 2016), among the worst in the nation, the state is expected to benefit heavily from the introduction of this pipeline into the North American oil scene.

Gov. John Bel Edwards also expressed his support for the pipeline, reiterating the importance of the state’s port infrastructure and ability to help fuel our country’s energy needs. Louisianians for Energy thanks Gov. Edwards for promoting affordable, accessible energy and we look forward to further expansion of our critical energy infrastructure.