Last week, this blog reported on the oil industry's return to the Gulf of Mexico. Two years after the largest offshore spill in American history, companies are again digging in the Gulf's waters as demand in local towns and cities is rises at an exponential rate. In New Orleans and surrounding cities such as Lafayette, Louisiana, this means an influx of jobs and an increased demand for oilfield solutions.
According to an article in the online publication The Advertiser, several local citizens – many of whom have been out of work for a number of years due to the economic crisis – are finding jobs in oil or in industries that rely on the substance. Lafayette Economic Development Authority President Gregg Gothreaux told the news source that the entire local economy is flourishing due to the growing oil industry.
"The oil and gas industry is creating jobs and the construction industry is creating jobs and the manufacturing industry is creating jobs," Gothreaux said.
While this is good news for an area still recovering from a number of disasters ranging from Hurricane Katrina to the BP oil spill, the only way Lousiana can truly make the most out of its oil renaissance is if oilfield producers conduct efficient practices. This means that companies will have to implement solutions designed to spur quick extraction such as artificial lift.
If this is not done and producers are unable to meet a growing demand, the booming industries relying on oil will suffer and the progress made in recent years could be negated. Companies in the oil industry should contact an oilfield technologies provider to ensure that they are acquiring the best solutions to fit their needs.