Celebrating La.’s energy harvest

Since the late 1500s, the age-old tradition of Thanksgiving has centered on the idea of giving thanks and praise for all the gifts that life has to offer. Historically, both European and American cultures celebrated the beginning and conclusion of the harvest cycle by holding annual community-wide festivals. The purpose of these festivals was to give thanks for a good harvest, and to rejoice as a community after much hard work and labor throughout the year.

In Louisiana, we as a community have been blessed with a bounty of good fortune and opportunity. Through much hard work and labor over the last 110 years, our people have offered up the gift and annual harvest of precious natural resources.

Our contribution of viable and affordable energy to society has played an integral role in our development and rise as the most powerful nation in the world. The energy we supply has been and continues to be the most important foundation for economic and cultural growth in the modern industrial era.

There is much for Louisianians to be thankful for during these difficult economic times. The resurgence of the oil and gas industry in recent years has breathed life into the dilapidated U.S. economy. While other industrial sectors remain stagnant, our industry is one of the few that is making strides to alleviate our trade deficit, create jobs, and give our communities the economic jolt they desperately need.

For the past year, the national unemployment average has hovered around 10% and signs indicate that number could continue to increase. The state of Nevada suffers from the highest rate of 13.4 percent. California trails that number at 11.7 percent.

However, areas heavily influenced by oil and gas activity have maintained significantly lower numbers compared to the national average. For instance, North Dakota’s unemployment rate is the lowest in the country at 3.5 percent. The contributing factor to this employment success is the unprecedented discovery and development of the Bakken Shale.

Louisiana shares a similar story. Because of the positive impacts that developments like the Haynesville Shale, Gulf of Mexico, and other emerging resources’ play have offered, the unemployment rate in Louisiana is currently at 6.9 percent and dropping.

Property and housing values are withstanding the economic downturn as well. According to the recent Louisiana Realtors Real Estate Trends report, we are experiencing a stable residential real estate market. The report found that the number of home sales and total residential sales volume was up 20.2 percent over the third quarter of 2010 for a total increase of 2.7 percent of the year.

The Haynesville Shale has also helped create historic supplies of cheap and dependable natural gas. Chemical companies and other industries that rely on natural gas as a primary feedstock see this as a great market opportunity and are returning to the U.S. Because of low energy costs, companies like DOW Chemical and Sundrop Fuels are expanding their operations into Louisiana and providing jobs to our citizens.

Thanksgiving is about showing thanks for God, family, good fortune, and success. This season let’s include thanks for our state’s plentiful resources, but most importantly, let’s celebrate the men and women who make energy production their job and passion.

Through their harvest, we are able to contribute and appreciate so much.