Dr. Loren C. Scott joins The Crude Life’s founder Jason Spiess for an update from Louisiana’s innovation, importing/exporting natural, extracting energy and the overall refining industry.
According to Dr. Scott, the state is experiencing some healthy economic activity, primarily due to the refining industries and natural gas.
“Right now countries are racing for the cheapest natural gas molecules and the United States is considerably cheaper than the rest of the world,” Dr. Scott said.
Dr. Scott continued to explain why foreign countries are especially interested in LA.
Dr. Scott also explains why the pipeline system in LA is critical to the energy activity currently happening as well as the Mississippi River.
“What they (foreign countries) are figuring out is the best places to come are on the Mississippi River, between Baton Rouge and the mouth of the Mississippi River, and The Calcasieu Ship Channel over in Lake Charles and then on the Southeastern Coast of Texas,” Dr. Scott said.
The Pipeline Grid in LA is massive in size and according to Dr. Scott, it is critical to the nation’s infrastructure and energy security.
“What you see when you look at a pipeline map of the United States is a mass of pipelines along the Louisiana and Texas Coast,” Dr. Scott said. “So not only will they be able to get cheap natural gas, but they would have accessibility to it.”
Right now, according to Dr. Scott, the Haynesville shale play is the main reason for the state’s oil and gas activity.
“In terms of oil and gas extraction, the really bright spot is the Haynesville Shale,” Dr. Scott said. “The reason the Haynesville Shale is doing very well right now, which the rig count has gone from about 16 to about 45 in the Louisiana portion of the shale, and the reason for that is that there has been a tsunami of new chemical firms and LNG export firms that have come into the southern part of the state.”
Dr. Scott also explains why ocean-going ships can travel up the Mississippi River giving that area of the world an advantage in transportation and distribution.
Loren C. Scott & Associates, Inc., is a 35-year old firm that provides economic consulting and public speaking services for a wide range of clients. Consulting activities include impact studies, forecasting services, analysis of policy proposals, and general economic analyses. Consulting clients include BP, ExxonMobil, Entergy Corporation, J. P. Morgan Chase, Capital One Financial, Nucor, Sasol, and a diversity of others. Our objective is to put together the very best team of associates to attack our client’s problems. Dr. Scott makes 50-70 presentations a year on the state of—and the outlook for—the economy and the energy sector in particular.
He is one of the 32-member National Business Economic Issues Council, which meets quarterly to discuss issues of state, national, and international interest. This group has experts who cover international trade, Washington economic policy, retail trade, trucking, steel, chemicals, etc. Dr. Scott is an energy specialist on the NBEIC. He has been appointed to the Economic Advisory Board of the U.S. Council on Competitiveness—a group made up of the CEOs of the Fortune 100, top university presidents, and presidents of three major unions.
He has been interviewed on MSNBC, CNBC, Bloomberg TV, and several local TV stations and his work has been cited in such publications as the Wall Street Journal, the Financial Times, USA Today, the Los Angeles Times and the Moscow Times, to name a few.
Dr. Loren C. Scott is President and founder of the firm. He was on the Economics Department faculty at Louisiana State University from 1969 to 1998, where he rose through the ranks from Assistant Professor to the holder of the Freeport-McMoran endowed Chair of Economics. He is presently Professor Emeritus of Economics at LSU.
Over the thirteen-year period from 1983-96, Dr. Scott was the chairman of the Economics Department at LSU. During that time, the Department’s ranking among the 3,000 economics departments in the U.S. rose from 101st to 38th. He received 7 awards at LSU for outstanding classroom teaching.
Dr. Scott is co-developer of the Louisiana econometric model, a model used for providing annual forecasts of the Louisiana economy, which are released each fall. He was a co-investigator on over $1 million in grant research at LSU and is the author of over 75 articles and technical reports in addition to reports written for consulting clients.
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