Natural Gas Boom Brings $50 Billion to Louisiana
Could Louisiana see a renaissance in manufacturing?
A new study by David Dismukes, professor and associate executive director for the Center for Energy Studies shows $50 billion in new capital investments have been announced in Louisiana already and are likely to be developed between the next five to nine years.
“It potentially could be as big as $80-90 billion, with over 120,000 jobs created in order to build out this incredible renaissance, is what he called it” in this study says Gifford Briggs, Vice President of Louisiana Oil and Gas Association, which sponsored the study.
Natural gas is the largest cost for most manufacturing and with new methods for recovering the gas, prices have plummeted, which is great for manufacturing industries. U.S. natural gas prices have plummeted after hydrolic fracturing allowed hard to reach reserves to be tapped, while overseas natural gas prices are still very high. “That difference is allowing our manufacturers and refiners to not only be competitive but to also have a distinct advantage over their competitors in other nations,” says Briggs.
By posting your comment, you agree to abide by our Posting rules