Louisiana Refineries Could See More Supply
Louisiana could play a major role in processing additional Venezuelan crude under a new U.S.-Venezuela oil agreement, according to Tommy Faucheux, president of the Louisiana Mid-Continent Oil and Gas Association.
Faucheux said Louisiana accounts for about 20% of the nation’s refining capacity, with 15 refineries across the state. Several can process the heavier crude produced in Venezuela, creating an opportunity for Louisiana companies to increase their access to feedstock.
He also emphasized the importance of infrastructure. Refineries need reliable pipelines, ports and other facilities to move crude into plants and finished products to consumers. Continued investment could help Louisiana take advantage of future growth.
Predictability Could Support Jobs
Faucheux said greater certainty in oil supplies can influence companies’ investment decisions. If businesses expect reliable access to crude at reasonable prices, they can make longer-term plans for operations, infrastructure and employment.
The energy industry already supports hundreds of thousands of jobs across Louisiana. Faucheux cited more than 134,000 energy-related jobs in the Mississippi River corridor and about 26,600 in southwest Louisiana.
More investment could increase those numbers while supporting jobs in related industries, including transportation, construction and port operations.
Economic Development Creates New Opportunities
Faucheux also pointed to major economic development projects across Louisiana, including SpaceX, as evidence that the state’s energy infrastructure and workforce can support industries beyond traditional oil and gas.
He said Louisiana’s long history in energy has helped build an education and training system capable of preparing workers for industrial careers.
From community colleges to high school career programs, Faucheux sees opportunities to prepare the next generation for jobs in energy, aerospace, manufacturing and other growing industries.
He said the ultimate goal is to create enough opportunity to keep Louisiana families in the state while attracting new workers and businesses.