The United States' ability to produce, export, and meet consumer needs is at an all-time high. Earlier this month, the Energy Information Administration (EIA) reported the US became a net exporter of crude oil for the first time in nearly 75 years and that liquified natural gas (LNG) export capacity is going to double by the end of 2019. Further, just two years ago, America became a net exporter of Liquified Petroleum Gas (propane).
In fact, Louisiana is playing an important role in these trends, with projects like Cheniere Energy's Sabine Pass LNG Export Terminal, the nearly-complete Bayou Bridge Pipeline, the Lake Charles LNG Terminal, and a host of other major infrastructure components contributing to our growing influence in the global energy market.
What is more, with pipelines in Texas' Permian Basin nearing completion, Louisiana will be ready to accommodate the transporting, refining, and exporting of record amounts of energy products.
These projects benefit more than just the energy industry. Whether it's a pipeline, refinery, or LNG export facility, jobs will be created, tax revenue will be generated, and the local economy will benefit. Economist Loren Scott recently projects a significant influx of new jobs are coming Louisiana's way--largely as a result of the booming oil and gas industry across the state and expected energy growth in the Gulf.
Our state and local lawmakers must come together to ensure regulatory certainty, a straightforward permitting process, and welcome future investment in the growing energy industry.