With new leases on oil and gas able to take place, plans can be made to increase oil production once again. However, Mike Moncla, the president of Louisiana’s Oil and Gas Association, feels this legal battle may be far from over.
Moncla told News 10, “We’re facing record inflation, record high gasoline prices, and you still have a government run by Biden’s administration that is fighting oil and gas every step of the way. It’s frustrating.”
Moncla said that the Biden administration put the ban on the oil and gas industry to be more environmentally friendly, but failed to realize oil production is increasing while cutting carbon emissions.
“I mean there’s no country in the world that’s done more for emissions than the United States. We’re cutting emissions while increasing the amount of oil and gas, and other countries can’t say that. So we are doing our part, it’s sad that the government doesn’t see that.”
Moncla added that the new leases can now be used to make up for the decrease in oil production coming from the Gulf of Mexico if the injunction remains in place.
“We’ve actually had a decrease in production from the Gulf of Mexico going on 10 straight years, so what we’re doing in the Gulf is just trying to stay ahead. Whatever we’re losing, make up for with new drilling. So it’s a positive that if this injunction holds we’ll be able to continue drilling.”
While the injunction was issued last week, Moncla told News 10 that he feels the court battle is not over.
“I’m not sure we’re quite at a solution yet, you know, this President has been at war against oil and gas since he took over as President. He banned them, we had a federal judge say his ban was wrong, he had a federal judge in DC overturn that one, we just had a federal judge in New Orleans overturn the DC judge, so there’s no telling if he’s going to have another judge overturn this one. I mean this could end up at the Supreme Court one day, we’ll see,” he said.
Moncla said that offshore drilling and exploration are done 5 to 10 years in advance. He also said that we won’t see the benefits of these new leases for years.