3 times larger than the Exxon Valdez spill in Alaska.
Louisiana seafood production has an estimated economic impact of $2.4 billion. Production of about 23 percent of that amount has been temporarily shut down by the National Oceanic and Atmospheric Administration because of the oil spill.
The oil and gas industry has a $70 billion economic impact and creates 320,000 direct and indirect jobs in Louisiana. As I’ve often said, “The oil and gas industry needs Louisiana, and Louisiana needs the oil and gas industry.”
Chris John is a former Democratic Member of Congress from Louisiana’s 7th district and is currently the president of the Louisiana Mid-Continent Oil and Gas Association.
"It's bad enough that we have an oil spill to deal with and the fishermen can't work. Now they're going to take away the oil industry, and we'll have nothing, " said Chett Chiasson, executive director for the Greater Lafourche Port Commission, which runs Port Fourchon, the launching point for 90 percent of the deepwater activities in the Gulf of Mexico.
"a lack of understanding of the role that the oil business plays in the Louisiana economy."
Louisiana Economic Development Secretary Stephen Moret has had a team working to assess the moving target of the economic impact of the rig explosion since late April.
Depending on how the rules shake out, Moret has three scenarios for how bad the moratorium could be for Louisiana's economy.
Within a very short time, Moret believes the state will lose 3,000 to 6,000 direct and indirect jobs.