Louisiana’s Place Between Oil Spill and the Natural Gas Market
The tragic oil spill in the Gulf Coast which has devastated coastal Louisiana’s wildlife preserves and many residents’ livelihoods places a new found importance the developments taking place further inland in the state. The natural gas discovery and subsequent production in the Haynesville Shale region is as uplifting for members of the Louisiana community as the oil spill is heart wrenching for others. Shale gas and its potential to provide partial independence from crude oil has many scientists and policy makers optimistic that its development and increased production can help to prevent accidents like the oil spill in the future. Louisiana is now in a unique position, saddled with the mess resulting in one form of energy harvesting but blessed with the abundant resources of another cleaner replacement. On a global scale, the state can now serve as a microcosm for the world’s developing energy situation, with the trauma of a worst case oil scenario ravaging its southern beaches and the booming natural gas market showing signs of wealth and prosperity along its northwest border. Read the rest of this entry »