Economist says oil and gas industry good for the state - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

Economist says oil and gas industry good for the state

Oil and gas  (Source: WAFB) Oil and gas (Source: WAFB)
BATON ROUGE, LA (WAFB) - A high-ranking economist who works at LSU had big oil on the brain Thursday.

Loren Scott says Louisiana ranks second in the nation in oil production and that almost 20 percent of oil and gas in the United States comes from here.

Scott says everything from schools to roads are helped by this big money industry.

He also cited a recent study that creates a what-if scenario about big oil for the Bayou State.

“If you want to know what Louisiana would look like without the energy sector, all you have to do is look one state to the east. That’s what we would be like,” Scott says. “We’d be like the state of Mississippi. We have a lot of the characteristics and a lot of the demographics of Mississippi. Except that Mississippi does not have a meaningful energy sector. Mississippi ranks 50th in per capita income. We ranks 32nd.”

Scott noted that nearly 287,000 jobs in the state are created because of the energy sector.

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