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Gov. John Bel Edwards vows to veto any budget looking like ‘non-starter’ House-backed plan

Gov. John Bel Edwards vows to veto any budget looking like ‘non-starter’ House-backed plan

Gov. John Bel Edwards is threatening to veto Louisiana’s state operating budget bill if it looks like the version crafted by House Republicans. The Democratic governor Thursday repeated his description of the House-backed spending plan as a “non-starter.” But he went further, saying he would reject the document entirely if it arrived in the form […]

High drama marks session’s last stretch

High drama marks session’s last stretch

Frayed nerves, negotiating tactics, policy threats and political gamesmanship have all collided for the final two weeks of the regular session. Lawmakers have until June 8 to address a growing list of problems and each passing day shaves off a sliver of possibility that all will end well. In just the past 24 hours the […]

Cheniere Energy Continues to Rally after US-China Trade Deal

Cheniere Energy Continues to Rally after US-China Trade Deal

Cheniere Energy (LNG) continues to rally after the LNG (liquefied natural gas) trade deal between the US (SPY) (SPX-INDEX) and China (FXI). The company rose 2.2% last week while the Alerian MLP ETF (AMLP) saw a sluggish performance due to the rise in US political tensions. Cheniere Energy has risen 5.6% since the announcement. The company is […]

What Chesapeake Is Cooking Up In The Haynesville Shale

What Chesapeake Is Cooking Up In The Haynesville Shale

The Haynesville shale play down in Louisiana is home to vast amounts of dry natural gas in a play that used to be the poster child of the fracking boom, before the Marcellus/Utica took over. Chesapeake Energy Corporation (NYSE:CHK) may have sold off part of its position recently but this asset will continue to be […]

Mixed bag of support for gas tax

Mixed bag of support for gas tax

With a $510 million gas tax increase on the House’s calendar tomorrow, supporters and opponents are lobbying representatives hard and reaching out to the public. The Republican State Central Committee over the weekend decided to publicly oppose the 17-cent hike, while the Council For A Better Louisiana issued a statement today calling for its passage. […]

Bill would cut taxes for fossil fuel producers reviving dormant wells

Bill would cut taxes for fossil fuel producers reviving dormant wells

The new version is half as generous, offering a 50 percent severance tax reduction from 12.5 percent to 6.25 percent for inactive oil wells, but would allow producers to receive the benefit over a longer 10-year period beginning July 1, 2018. Gifford Briggs, vice president of the Louisiana Oil and Gas Association, said the new […]

Angelle takes offshore agency post in Washington

Angelle takes offshore agency post in Washington

Public Service Commissioner Scott Angelle will become director of the federal Bureau of Safety and Environmental Enforcement beginning Tuesday, an appointment made by President Trump. He is scheduled to be sworn in Tuesday morning in a brief ceremony, with a public swearing-in probably conducted by Interior Secretary Ryan Zinke at a later date. The announcement was […]

Gulf rig count rises third straight week

Gulf rig count rises third straight week

The number of rigs exploring for oil and gas in the Gulf of Mexico rose by three last week, increasing for a third straight week. The Gulf rig count, a key barometer for Houma-Thibodaux’s oil-based economy, totaled 23, according to Houston-based oilfield services company Baker-Hughes. The tally is the same as a year ago but […]

No solution yet on next year’s budget or ‘fiscal cliff,’ Gov. Edwards says special session is ‘likely’

No solution yet on next year’s budget or ‘fiscal cliff,’ Gov. Edwards says special session is ‘likely’

With the legislative session nearing its end, the Republican majority in the state House has yet to find a way to raise the money necessary to fill a huge budget gap looming in 2018 — or to indicate a willingness to do so. That makes it likely Gov. John Bel Edwards will have to order […]

BRIGGS: The Reemergence of the Haynesville Shale

BRIGGS: The Reemergence of the Haynesville Shale

The oil and gas industry could not be more diverse in Louisiana. In south Louisiana, in particular, the industry is experiencing historically low and stagnant rig growth, while the rest of the country sees a resurgence in rig activity. In northwest Louisiana, there is a glimmer of hope for the oil and gas sector, and […]