Local experts weigh-in on President Trump’s effect on the oil and gas industry; offer suggestions

La.(KLFY)- One of President Donald Trump’s top platforms was bringing and creating new jobs for the United States.

That brought optimism that the oil industry and possible benefits for Louisiana and Acadiana.

So far, optimism is about all the oil industry in Louisiana is holding onto.

There have been no regulatory changes at this point by President Trump. So those in the business continue to monitor the price of oil as it fluctuates.

Mike Moncla, of Moncla Drilling Operations, wrote a letter to Trump before he became president of his idea on how to help the industry.

“If we had a floor at $60 and a ceiling at $90 to be fair to the consumer. So if the oil goes to $26, we get 60. If the oil goes to $120, we only get $90. You know, I thought that would be some way to fix our domestic energy to keep us moving forward and drilling and keeping activity level. Moncla suggested.

Leonard Castille, of Offshore Energy Services, offers another option for the president to increase job growth and demand for oil on this end.

“Put a tariff on foreign oil, and allow us to drill here and allow our people to go back to work,” Castille said.

One of the other issues in the oil industry state wide is jobs are being forced out of the state, to neighboring states, like Texas and Mississippi.

“This is a message to the Governor directly. We don’t need the lawyers suing them and closing their businesses. If you drive from our small oil and gas Company in New Iberia, and you drive to this facility here in Broussard, look at the billboard signs. 80% of those are trial attorneys; the other 20 percent is the casino. Where are small businesses’ signs? Where are oil and gas signs that say ‘I’m hiring’? They don’t exist because they can barely afford to pay the receptionists to answer the phone.,”  said state representative and small business owner Blake Miguez.

Despite only being in the White House just over 100 days, president trump can only do so much to give a boost to oil and gas jobs statewide. That’s where state officials have to step up to the plate.

“Louisiana’s Governor Edwards is wanting to benefit and get oil and gas revenues from the state. He’s going to have to work with the President and the federal government to ensure that we do have jobs available and that we are enticing oil and gas companies to come back here and drill. We cannot make a living suing the hand that feeds us,” Castille advised.

OPEC also plays a huge role in how they influence the price of oil. For now, it looks as if the price has somewhat stabilized.

“I think we got through that low dip and we’re kind of settled in right there. Moncla said.

The hope was that the oil boom would start its real comeback in 2017, but now it is looking more like 2018.

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