New Analysis Shows Gulf Coast States Among Hardest Hit by Proposal to Ban Federal Leasing and Offshore Development

09 Sep New Analysis Shows Gulf Coast States Among Hardest Hit by Proposal to Ban Federal Leasing and Offshore Development

WASHINGTON, September 9, 2020 – The Texas Oil and Gas Association (TXOGA), Louisiana Mid-Continent Oil and Gas Association (LMOGA) and the American Petroleum Institute (API) today released a new analysis warning of negative consequences from a proposed ban on federal leasing on natural gas and oil development on public lands and waters. The offshore Gulf of Mexico accounts for over 15 percent of U.S. oil production. The analysis projects local economies in the Gulf Coast region would be among the hardest hit areas with more than 200,000 job losses by 2022 and millions of dollars in reduced revenue.
Source: American Petroleum Institute