Job growth coming for Louisiana’s oil, gas industries, experts say

Industry researchers expect the oil and gas industry to grow in 2023, which will include more job openings.
Published: Jan. 9, 2023 at 3:33 PM CST|Updated: Jan. 9, 2023 at 6:14 PM CST
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BATON ROUGE, La. (WAFB) - Industry researchers expect the oil and gas industry to grow in 2023, which will include more job openings.

The demand is going up and more hands are needed to get the job done.

“If we respond to the energy demands of both the U.S. and quite honestly the world, then I think we are going to continue to see investment in Louisiana energy facilities, energy companies,” said Tommy Faucheux, who is the president of the Louisiana Mid-Continent Oil and Gas Association.

Faucheux said he expects the oil and gas industry to improve in 2023. Company leaders are opening more jobs since the pandemic, and the industry itself is changing.

“We are also seeing investments in refineries, who are looking to produce lower carbon products. Is it moving completely away from oil, gas, and fossil fuels, no,” added Faucheux.

He said the push from the federal government to reduce carbon emissions will help create more jobs, but the demand for traditional oil and gas is still there.

“So you have companies, both southwest and southeast Louisiana increasing the amount of natural gas. They’re exporting around the world to fill that void in Europe because of the Russia-Ukraine crisis,” explained Faucheux.

WAFB talked with Greg Upton, who is a research professor with the LSU Center for Energy Studies, about the new need for more workers.

“So, the demand for these products globally ultimately is what drives the employment opportunities that we are seeing here in Southern Louisiana,” said Upton.

In the 2023 Gulf Coast Energy Outlook, the data shows that about 3,500 jobs will back to the oil and gas industry since the pandemic.

Upton believes this new job growth and more people relying on the U.S. for resources could lower the price for the average consumer.

“Companies are expecting and are trading on the assumption that oil and natural gas prices will go down over the next year. So, if we look at gasoline prices, you know we can anticipate them to be about this level you know maybe 10, 20, or 30 cents lower over the next year or so,” added Upton.

Upton said companies want to hire employees all across the spectrum, from college-level graduates for engineering positions all the way to blue-collar workers. The job opportunities will not be where they were pre-pandemic, but experts say it is a step in the right direction.

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