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The following are statements from LOGA President Gifford Briggs and LMOGA President and General Counsel, Tyler Gray, regarding the Senate Natural Resources committee deferral of SB 490 today:
“We applaud Senators Bret Allain, Mike Fesi, Bob Hensgens, and Sharon Hewitt for their bold leadership in opposing SB 490. This bill would have diverted funds away from Louisiana coastal restoration, incentivized more frivolous litigation targeting the energy industry, and allowed for the wholesale out-sourcing of state coastal policy and regulatory enforcement authority to private attorneys at the expense of Louisiana’s integrated coastal resources program.”
“LOGA and LMOGA have opposed these meritless lawsuits from the beginning. We believe they represent an unprecedented abuse of state and federal coastal zone management laws, and they undermine the spirit of partnership that has enabled our industry to invest in Louisiana’s economy and our coast for decades.”
Over the last five years, Louisiana oil and gas companies generated more than $230 million for coastal restoration and hurricane protection, and as as result, there are more CPRA projects underway today than ever before in our state’s history. Conservation is at the core of Louisiana’s energy industry with over 339+ billion in environmental investments to reduce emissions and improve air quality, planting acres upon acres of trees, donating land and making significant investments in Louisiana’s coast.
The safe and responsible development of oil and gas resources in Louisiana supports more than 260,000 high-paying jobs and $72 billion in overall economic activity.
