The Louisiana Moratorium
After the tragic BP oil spill, President Obama imposed a moratorium on deep-sea oil drilling. The oilfield plays a large part in Louisiana economics. This moratorium has crippled Louisiana’s financial future. Oilfield companies employed many Louisianans. Oilfield workers, boat builders and suppliers, and many others in Louisiana have lost their jobs. Oil companies have moved their businesses out of the country. Louisiana lost millions of dollars and thousands of jobs.
Recently, President Obama lifted the moratorium with new safety regulations in place for deep-sea oil drilling. Oil companies are hesitant to resume oil drilling in the Gulf. This continuous delay threatens our economic future for many years to come. We face more health care and higher education budget cuts. How much longer can Louisiana continue to survive this disastrous economic situation?