Louisiana Oil Industry Fears Drilling Ban Fallout
State projects loss of 20K jobs during 6-month moratorium
By Nick McMaster, Newser Staff
Posted Jun 7, 2010 2:15 PM CDT
Risers are seen on the deck of the service vessel Joe Griffin as it prepares to head to Port Fourchon at the site of the Deepwater Horizon oil spill in the Gulf of Mexico, Tuesday, May 11, 2010.   (AP Photo/Gerald Herbert, pool)

(Newser) – President Obama's 6-month drilling moratorium in the Gulf of Mexico is intended to head off another environmental disaster, but it may end up causing an economic one. The oil industry makes up one-sixth of Louisiana's GDP, and the state estimates the ban would result in 20,000 jobs lost, NPR reports. "It's going to be devastating for a lot of my co-workers and family and extended family," says one drilling technician.

"Guys that sell maintenance and repairs, guys that sell engines—there's lots of banks out there who only loan money to the oil and gas sector. They're going to be affected," says the CEO of an oil-services firm. He points out that many firms will likely redeploy their drilling fleets rather than sit idle for 6 months in the Gulf—and may never return. But environmentalists call that a bluff: "There are fantastic deposits off the coast of Louisiana in federal waters." says one. "And so I doubt they'll go away."

View 1 more image
More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Louisiana Oil Industry Fears Drilling Ban Fallout is...
16%
36%
4%
32%
0%
12%
Show results without voting
You Might Like
Comments
Showing 3 of 9 comments
citizen20
Jun 8, 2010 6:47 PM CDT
you people have no idea the repercussion. Million people will be out of a job. Everything will go up. Gas will be back up to $4 and $5 a gallon. Remember Katrina. My job does not have anything to do with offshore drilling directly; however i stand to lose my job. Most people know that the economy depends on our oil production. If they shut it down for good, then you will be eating your words when this economy already shaky take a nose dive. I wonder if people would still view it the same if it's their lively hood on the line. i love the state of Louisiana. It makes me physically cry when i see the impact on the beaches and the wild life. To punish all for the price of BP, is outrageous. Thoroughly inspect every rig. They pass let them drill. They fail, make them fix it. Let them drill while people figure out what safety measure that need to be implemented then set a deadline to comply. There is absolutely no drilling in the gulf right now. The shallow drilling has been shut down. I know i don't want to be in an unemployment line. The company i work for does electrical and overhead crane work. We stand to close our doors. Who would have thought that a company that doesn't work for the rigs would have to close their doors, but their are a lot of companies like us that will have to if the ban is not lifted. At least the fisherman and everyone directly effected will get a chance for compensation if not a chance to get paid to clean the gulf up. What do i do to support my family. Jobs are scarce here and this will likely cause them to be a lot more scarce. I stand to lose everything and end up on state assistance. I DO NOT want that, but the people who believe that the ban is a good thing. Good luck because your picking up the tab on the people that will be unemployeed. I would rather earn my money and struggle than have it given to me. If you lived here then maybe you views would be a little broader.
sirgil
Jun 8, 2010 12:54 PM CDT
LA has been reaping the wealth of off shore drilling for 40 years, making it dependent on this revenue source. No mention has been made of this, only the Governor complaining that he is not getting enough Federal and BP funds to offset this loss of revenue. He sound like a liberal rather than the repub conservative he is made out to be. Kind of like 'you never find a atheist in a foxhole' comment from God fearing people. What should be asked in terms of governance from the governor is where is the contingency funds for such a accident???? OR did LA forget that some low hanging fruit gets rotten every now and then
flaming_jesus
Jun 7, 2010 9:44 PM CDT
Don't think I would want any more drilling there until the companies can prober they can contain any kind of leak as now, they have proven that they cannot do that to the entire world. Renewable energy yes, industries that support growth and use of those technologies is common sense and should be embraced immediately to provide jobs, new industries and technologies, and a better over environment, economically and environmentally. but in the short term, that is not realistic for those immediately affected by this disaster and the lack of ability to address it on the part of the oil companies. possibly take those employed by the industry and have the oil industry use them to change all of this, giving them new responsibilities and opportunities as they address and upgrade their facilities and platforms. once they h<ve 2="" ahead="" and="" any="" as="" balance="" begin="" can="" cents.="" companies="" contain="" controlled="" could="" demand="" development="" drilling="" drilling.="" drop.="" employ="" employment="" energy="" for="" go="" in="" is="" kind="" leak,="" less="" meantime="" more="" occurring="" of="" oil="" out="" proven="" renewable="" rest="" restricted="" start="" starts="" that="" the="" then="" they="" to="" us="" workers=""></ve>