Oil and gas industry expected to fuel economic growth in the Arklatex & beyond

News
October 26, 2012
 
 
Bossier City has held its first State of Energy Seminar.
 
Recent findings by the Institute for 21st Century Energy say a surge in unconventional gas extraction in the U.S. will create more than 3.5 million jobs by 2035.
 
The boost is expected to be felt right here in Northwest Louisiana.
 
"There's been a tremendous opportunity that's been provided because of this structural drilling, hydraulic fracturing, some ability to get gas out the shale that's really created a boom," said Matthew Koch, U.S. Chamber of Commerce VP Institute for 21st Century Energy.
 
Don Briggs, President of the Louisiana Oil and Gas Association says the Haynesville Shale, the largest natural gas play in the U.S. has become a game changer in the industry.
 
However, there is still a need for oil, especially from Canada.
 
"We import 8 million barrels of oil a day in the United States, we need that Canadian crude they're our number 1 supplier, and that's why we need the Keystone Pipeline," said Briggs.
 
In order to reduce the country's dependency on oil Cheniere Energy Company in Cameron Parish is building an $11-billion facility to export natural gas from the Haynesville Shale.
 
The facility is expected to be fully online by 2017 and will start bringing gas to the international market by 2015.