Gov. Edwards: Louisiana needs stability as oil industry faces serious downturn

RAW: Gov. Edwards speaks at La. Mid-Continent Oil and Gas Association meeting

BATON ROUGE, LA (WAFB) - The governor said the state must work together with the oil industry, which is very important to Louisiana.

Governor John Bel Edwards spoke at the Louisiana Mid-Continent Oil and Gas Association annual meeting Wednesday. It was held at the Old State Capitol.

The governor talked about the several different challenges facing the state since took office, from the high river levels when he was inaugurated to the special session to deal with the largest budget deficit in state history to the recent tornado and flooding events. He  said one of the challenges is also the nose dive in prices at the pump.

Edwards said the state needs to find stability as the oil industry faces the worse downturn since the 1980s in terms of money and the worst ever in how much the price has dropped. He said he will partner with the oil industry the best he can as the fortunes of both the state and industry are tied together.

Edwards understands the pressure that low gas prices put on the industry and will do what he can to help.

"I know times are tough, but I am extremely excited still to be the governor. And I know that we have tremendous opportunities ahead of us, but we also have some very difficult challenges," Edwards said.

Edwards will meet with rating agencies Thursday to talk about a comprehensive tax reform.

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