Donald Trump"s "100 day plan" will impact the oil & gas industry

Donald Trump’s plan for first 100 days in office
Lafayette, LA -

President elect Donald Trump"s plans on lifting restrictions on the oil and gas industry during his first 100 days in office.

He plans on lifting restrictions as to where companies can drill and on keystone pipeline. trump says his energy plan could bring 50 *trillion* dollars in jobs to the US. "If you take the East Gulf of Mexico, which has largely been off limits for exploration, allow leases to start happening there again, and companies can begin exploring when prices rebound, certainly there"s going to be a boom for investment and jobs and particularly coastal Louisiana, " Gifford Briggs president of the Louisiana Oil & Gas association said. Louisiana oil and gas association president Gifford Briggs said it"s too early to see how much of an impact President-elect Trump"s 100-day plan could bring to Louisiana. He said the state needs to focus on resolving issues at home first.

"One of the things we got to remember is we have our own challenges in Louisiana," Briggs said. "If we"re not attracting investment in Louisiana while we"re actually drilling, producing oil and natural gas in Louisiana then jobs will come back to the industry, but not Louisiana. We have to make sure that our fiscal legal house is set up to attract investment, and we have some work to do in that area."

Briggs said the oil industry has lost nearly 20,000 jobs in the last 2 years and the industry has suffered major monetary loses, but if president-elect trump lifts restrictions it could lead to gains in both areas.

"We"re still dealing with a low-price environment, so anything that he does with regard to taxation that freezes up more capital could lead to more investment," Briggs said. "Certainly, we want Trump to take the steps necessary to encourage investment in the oil and gas industry and get people excited abut producing these great resources we"ve been blessed in, but we need to make sure in Louisiana that we take care of our house first so when those investment dollars do come in, which they will, we can attract those dollars. Not Texas, Oklahoma, North Dakota."

Source: http://www.katc.com/story/33682908/donald-trumps-100-day-plan-will-impact-the-oil-gas-industry