Carencro Business Association Welcomes Scott Angelle as Keynote Speaker
Prejean's Restaurant was the place to be for breakfast on Friday, January 27 where the Carencro Business Association ("CBA") held its annual Business Appreciation Breakfast . The highlight of the breakfast was hearing the wit and wisdom of Scott Angelle who was introduced by Carencro Mayor Glenn Brasseaux. Scott has dedicated his life to public service making friends with everyone along the way. Having recently served as interim Lt. Governor appointed by Gov. Bobby Jindal, Scott was first elected as a St. Martin Parish Police Juror at the age of 25 and then served as the first St. Martin Parish President at the age of 39. His endearing communication skills, coupled with his hilarious personal stories, left the crowd begging for more.
One of the most interesting facts of Angelle's presentation was the price dynamics currently affecting the oil and gas markets. Historically, there has been a 7 to 1 spread between the price of oil to gas. In the past, the price of oil would spike immediately preceding any recession. Today, this parallel no longer exists: the spread between the price of oil to gas is 41 to 1. Natural gas prices are at an all time low, while the price of oil is high. The new technology allowing natural gas to be accessed by "fracking" has enhanced the supply chain, and natural gas is affordable and plentiful.
Angelle wants to change our national energy policies to focus on increasing demand for natural gas usage. Experts predict we will have cheap and abundant natural gas for the next 40 years. As a result of low prices, Dow Chemical has invested $4billion in the Gulf Coast region. Citing the multiplier effect of employing locals for energy related jobs, Angelle explained the benefits of promoting natural gas. Given our long-term habit of "filling our gas tanks," Angelle also related that emerging technology which turns natural gas into liquid gas (GTL) will satisfy consumer demands for cheaper transportation and meeting energy demands quickly. Sasol, a world leader in the commercial production of liquid fuels and chemical from natural gas, is currently doing a feasibilty study on GTL in Calcasieu Parish and may build a multi-billion facility at West Lake that will produce up to 850 jobs.
Other examples of investments in Louisiana that Angelle shared included Chenier Energy at the Sabine Pass LNG Terminal, spending $4 billion at their facility, which will facilitate shipping fuel to Asia. That region of the world is moving away from reliance upon nuclear energy after the Tsunami made clear how unstable and unsafe nuclear power plants may be for a populated region.
The good news Angelle shared was that there are currently 39 oil rigs operating in the Gulf of Mexico, almost back to the high of 45 which were operating prior to the Macondo blowout in April 2010. There are approximately 20,000 natural gas wells operating in Louisiana. 9% of these wells (1,800) are located in the Haynesville region in North Louisiana and, incredibly, provide 68% of the natural gas produced in our state.
Inasmuch as Lafayette Parish has the highest per capita of energy related employees of any county in the United States, all of this energy related business matters! Thanks to the CBA for inviting Scott to share his knowledge of the industry with us, and for all the CBA does to enrich our everyday lives. We congratulate Charles and Suzanne Brunt who were honored for their continuing commitment to bettering the business community and were awarded the 2011 CBA Award. Mrs. Ira "Cricket" Clavelle was also honored as the recipient of the 2011 CBA Civic Award. Lee Verret, longtime CBA advocate and successful State Farm agent, provided an overview of the many benefits of being a CBA member. Throughout the year, the CBA works to promote local business and holds many community outreach events which benefit our entire community. For more information about CBA, please email Liz Breaux at ldsavoie@cox.net.
Thanks to Lynn Guidry, Architect, for providing photos from event.
