LOGA addresses the oil and gas industry issues - KPLC 7 News, Lake Charles, Louisiana

LOGA addresses the oil and gas industry issues

LAKE CHARLES, LA (KPLC) -

The Louisiana Oil and Gas Association (LOGA) met on Thursday, Feb. 16 to confront the big issues surrounding the oil and gas industry.

Topics such as fracking, offshore drilling and President Obama's plan to move to cleaner energy were talked about.

The meeting was part of an effort to educate local professionals on the current state of Louisiana's oil and gas industry.

President of LOGA Don Briggs said business in the Gulf of Mexico will pick back up.

"The Gulf still today has some of the most productive potential resources in the entire world," Briggs said.

Briggs said the Gulf moved down from an 11th place position to a 60th place in terms of "drilling attractiveness" because of the uncertainty that was created in the Gulf from the President's Moratorium. And Briggs believes it will come back.

"There are 42 rigs out there right now," Briggs said. "Several companies are bringing rigs in, so I think we're going to see that continue on."

The current 42 rigs in the Gulf compared to the 148 rigs back in 2001, and Briggs said the Obama Administration's efforts to bring back the Gulf are insufficient, focusing more on cleaner energy like wind and solar. But Briggs said cleaner energy is not going to fuel the engine for the country.

"In his new budget he [Obama] says they're tired of subsidizing the domestic oil and gas industry when in fact, they don't subsidize our industry. We have investment incentives we get like depreciation and other things that all businesses get, so we're not subsidized by any means," Briggs said.

But overall, Briggs said the state is in good shape when it comes to bringing back the oil and gas industry.

"We're always going to be in the energy business. But that's the wonderful thing about living here and in your community, and in South Louisiana, and in the state, is that we're an energy business and we have so much. They're always going to need us," he said.

The next LOGA meeting is Monday, February 27 at the L' Auberge Casino.

All rights reserved. KPLC 2012.

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