President Barack Obama touched on the oil and gas industry in his State of the Union. Some of these initiatives may benefit Louisiana’s economy.
First, the President suggested loosening regulation. “My administration will keep cutting red tape and speeding up new oil and gas permits,” Obama said. “That’s got to be a part of an all-of-the-above plan.”
On Tuesday, Nebraska Gov. Dave Heineman approved an adjusted route for the Keystone XL Pipeline that avoids that state’s fragile Sand Hills. Soon after, 53 senators – including both from Louisiana – wrote a letter to President Obama supporting the project.
Moody-Price LLC, a Baton Rouge equipment and supplies distributor, has acquired Guico Specialty Co., a Lafayette firm that sells high-pressure industrial equipment.
Terms of the deal were not disclosed.
Danny Daniel Jr., Moody-Price president and chief operating officer, tells The Advocate (http://bit.ly/Wr4MBo) Guico's customers are mainly deepwater, oil and gas companies, with some in the chemical industry.
Moody-Price expects the deal to increase sales of Parker Autoclave Engineers products.
Textron Marine & Land Systems' offices will remain in Slidell for at least another year.
The Textron Inc. division said Wednesday that it has a lease extension through May 31, 2014, with two one-year options, pending approval by the Slidell City Council. The current lease ends in May.
The division makes and supports military vehicles, ships and boats. It has leased offices from Slidell since 2007. Its factory is in eastern New Orleans; it has an assembly plant and a warehouse in Slidell.
Terms of the extension were not disclosed in the company's news release.
The U.S. Department of Commerce has awarded a $1 million grant to the Port of Greater Baton Rouge to rebuild a rail line at the marine terminal which was damaged by Mississippi River flooding in spring 2011.
The Advocate reports the money was part of a $200 million appropriation Congress made to help communities that received a major disaster designation in fiscal 2011.