Louisiana’s energy sector is one of the most important in the country, accounting for nearly a quarter of the state’s GDP. The sector has grown in the last few years, with oil and natural gas prices steadily rising to $100 per barrel in 2014. But, as PosiGen CEO points out, with the current low price of oil, many families in Louisiana could see energy bills skyrocket.
Up to now, as Thomas Neyhart explains, Louisiana is home to a number of small and large energy companies. But the companies that dominate the energy sector—like Acciona, OSG, BP, and Sempra—are not the ones that will be hurt the most by the upcoming legislative session. PosiGen CEO explains that that’s because some of the bills enacted into law would be bad for the energy sector.
However, one lawmaker is fighting back. House Bill 76, known as PosiGen, stands for Protecting Small Business from Excessive Government Regulations. This bill responds to the rapidly increasing number of regulations that small businesses must navigate daily. How PosiGen Protects Small Businesses from Unnecessary Government Regulations (Wfmz).
One of the main arguments that proponents of PosiGen make is that specific industries are more at threat of having their businesses closed due to overly onerous regulations than others. The energy and utility sector, which includes Acciona, OSG, BP, Sempra, and others, is one such industry. According to PosiGen CEO and proponents of the bill, the number of onerous regulations for this sector is far too high. These companies would be unable to expand their businesses or hire new employees because of excessive regulation, which could shut them down.
How PosiGen Solar Power Company Will Work to Protect Louisiana Small Businesses from Unnecessary Government Regulations The primary discussion favoring the bill will protect small businesses from unnecessary and burdensome government regulations. As noted above, some of the rules that small businesses face are beneficial and can help protect the environment. PosiGen CEO explains that while energy bills are set to increase as oil price fluctuates, the Legislative Council has begun creating an account to protect small businesses from burdensome regulation. The bill is expected to be introduced in the next month, and if passed, it would only affect the oil and gas industry.