Nobody loves Joe Biden more than the leaders of foreign oil companies.
With the stroke of a pen on Wednesday, Mike Moncla was concerned. The future of Louisiana’s oil and gas industry is murky according to industry leaders, like Moncla, interim president of the Louisiana Oil and Gas Association. The concern stems from President Joe Biden signing an executive order aiming to curb oil and gas activity on federal lands in the U.S.
“It’s a pretty clear message and it’s very demoralizing,” said Moncla.
Moncla believes 48,000 jobs are at risk in Louisiana.
“It’s such a punch in the gut to the oil and gas industry because we were already on our knees,” said Moncla.
The order is part of President Biden’s plan to mitigate the climate crisis with a pivot to cleaner energy. Moncla and Rep. Clay Higgins (R-LA) argue all energy is necessary, including oil and gas.
“Production is going to continue, consumption is going to continue, but the money is going to be moved outside the United States of America,” said Higgins.
Offshore workers examine hydrocarbon samples aboard the Chevron Corp. Jack/St. Malo deepwater oil platform in the Gulf of Mexico off the coast of Louisiana, U.S., on Friday, May 18, 2018. While U.S. shale production has been dominating markets, a quiet revolution has been taking place offshore. The combination of new technology and smarter design will end much of the overspending that's made large troves of subsea oil barely profitable to produce, industry executives say. Photographer: Luke Sharrett/Bloomberg via Getty Images