Respected economist and LSU Professor Emeritus Dr. Loren Scott recently published a study titled “The Energy Sector: Still A Giant Economic Engine for the Louisiana Economy.” The report details the myriad economic benefits of the oil and natural gas industry in our state.
Some key metrics that the study highlights:
- 92,000 miles of pipeline in Louisiana, onshore and offshore
- 44,580 directly employed by energy sector paying $5.3 billion in wages
- Wages in the pipeline industry were $1,673/week 26% higher than the average manufacturing wage
As Marc Ehrhardt, Executive Director of Grow Louisiana Coalition, related:
In the face of an unpredictable tax system, countless misguided legal attacks and an industry downturn, this study proves the oil and natural gas industry’s continued dedication to the state of Louisiana.
With all of the cards stacked against the industry, it continues to provide billions in tax revenues and hundreds of thousands of jobs for our state. We cannot take this for granted. For our state’s future, we must make sure that Louisiana is on the top of the list for companies looking to invest this by stopping reckless lawsuits and partnering with the industry.
Louisianians for Energy applauds Dr. Scott and the Grow Louisiana Coalition for drawing attention to the many benefits of our state’s energy industry – from the employment opportunities to tax revenues and ultimately the safe transportation and refining of our region’s energy resources.
Read the full study here.