Saturday, August 7, 2010

The Rally That Cried Wolf!

Another week into the moratorium on deep water drilling in the Gulf of Mexico and another week of mounting evidence that the opponents of the moratorium who predicted it would crush Louisiana's economy are guilty of crying wolf.

The Louisiana Oil and Gas Association (LOGA) website on Saturday that the rig count in Louisiana was 183 rigs. That's down three from the previous week, and one less rig that was operating in Louisiana two weeks ago.

The Louisiana Workforce Commission announced on Friday that new unemployment claims in Louisiana had fallen yet again.

In fact, the LWC said in its statement that unemployment claims in Louisiana have been trending downward all summer:
In July all regular unemployment insurance claimants who have received at least one check during the reference month in Louisiana decreased by 993 from 49,421 in June 2010 to 48,428 in July 2010.
The Times-Picayune reported on Friday that there has not, in fact, been an exodus of deep water drilling companies from the Gulf of Mexico, despite the moratorium:
Despite uncertainty about when the federal moratorium on deepwater oil exploration in the Gulf of Mexico may be lifted, drilling companies say they are readying to return to work, maintaining their full complement of rig workers at full pay and making improvements in their rigs to meet new federal safety standards required by the Interior Department.
Rig counts steady. Unemployment falling. Drilling companies say they are keeping people on staff and working to meet the new safety regulations.

All more evidence that "The End is Near" rally was propaganda event perpetrated by the Governor and his allies in the oil and gas industry on the people of this state. Or, in other words, just another day at the office for Bobby Jindal.

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