Louisiana Oil and Gas Association

A New Orleans-area levee district is suing 97 oil industry companies for damaging wetlands that protect the city from hurricanes. The district is seeking repairs that could cost several billion dollars.

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.”