BATON ROUGE, La. –  The Louisiana Association of Business and Industry (LABI) released the following statement on behalf of President and CEO Will Green in response to Gov. Jeff Landry’s executive action (JML 25-119) related to carbon capture and sequestration (CCS).

“Louisiana’s energy sector is the envy of the nation and the world. The expertise and talent of our workforce, combined with the state’s abundant natural resources, make the state a global destination for energy investment and innovation. LABI’s commitment to ensuring that Louisiana remains a top destination for investment, technological advancement and job creation is ironclad.

“While this appears to be a shared goal of the Landry administration, today’s executive order on carbon capture and sequestration sends the wrong message. The order risks ceding Louisiana’s competitive advantage to neighboring states eager to move forward with CCS investments.

“Carbon capture and sequestration is a key piece to growing and retaining the high-wage energy, industrial and manufacturing jobs that sustain Louisiana families, while also ensuring the long-term viability of our state’s oil, gas and petrochemical industries.

“Louisiana has already secured billions of dollars in CCS-related investments from companies committed to delivering products and energy safely and efficiently with a lower carbon footprint. These projects generate millions in local tax revenue, supporting infrastructure improvements, school upgrades and economic development in communities.

“The momentum Louisiana has built is no accident. It is the direct result of securing state primacy and leveraging our unique geology, world-class energy infrastructure and highly skilled workforce. Together, these advantages have positioned Louisiana as a global leader in the energy marketplace. By injecting uncertainty and regulatory hurdles into this process, we stand to undo all the progress that state leaders have touted for months.

“We cannot yield our position to states like Texas that stand ready to capture these same opportunities. CCS represents a chance to strengthen Louisiana’s energy sector and make us the energy giant of the future we know we can be.

“LABI stands ready to work with the Landry administration and President Trump to ensure Louisiana secures our energy future, creating good-paying jobs and thriving local communities for generations to come. This shared vision can only be realized by building on our existing resources and embracing innovative technologies like carbon capture and sequestration, sending a clear message: Louisiana is open for business.”

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The Louisiana Association of Business and Industry: The Louisiana Association of Business and Industry was organized in 1975 to represent Louisiana businesses, serving as both the state chamber of commerce and state manufacturers association. LABI’s primary goal is to foster a climate for economic growth by championing the principles of the free enterprise system and representing the general interest of the business community through active involvement in the political, legislative, judicial and regulatory processes. Find out more information at labi.org.