Thanks in large part to the abundant resources found in federal waters off of its coast, Louisiana is one of the nation’s top oil and natural gas producing states, making energy development a major economic driver in the state.
In 2019, oil and natural gas development in Louisiana accounted for $73 billion in economic benefits to the state economy, nearly $4.5 billion in state and local tax revenue, approximately 250,000 jobs, and $14.5 billion in wages to in-state workers. Federal leasing in the Louisiana Outer Continental Shelf generated $5.5 billion in federal revenue.
Energy development in federal waters is critical in supporting Louisiana’s economic growth and employment. A ban on federal leasing would therefore have potentially devastating impacts. In 2025, Louisiana would lose $763 million in GDP and nearly 8,000 jobs. In 2030, Louisiana would lose $2.95 billion in GDP and more than 32,900 jobs. In 2040, Louisiana would lose $3.95 billion in GDP and nearly 49,700 jobs. Under a federal leasing ban, tax revenue lost from offshore development would total more than $3.7 billion in 2040.