Baton Rouge industry leaders and congressmen are applauding the preliminary injunction a Louisiana federal judge has issued against President Biden’s pause on new oil and gas lease sales in federal lands and waters.
ExxonMobil announced this morning it will move forward with a $247 million investment at its north Baton Rouge refinery to modernize and upgrade the aging facility and enhance its competitiveness.
Oil prices this week hit multiyear highs above $70 a barrel, punctuating a global economic reawakening that has raised the prices of a broad range of commodities. But that doesn’t mean Louisiana should expect more drilling activity any time soon, according to one local energy expert.