Environmental (and political) junkies got a double fix on Nov. 18 when The Lens hosted a Breakfast with the Newsmakers discussion between Lens environmental writer Bob Marshall and Gladstone Jones, the lead attorney in the Southeast Louisiana Flood Protection Authority — East’s lawsuit against more than 90 oil and gas companies.
For banks, the immediate result of the price slide — West Texas Intermediate went from a year high of $107 a barrel in June to the mid-$60 range by late November — has been a decrease in stock prices, especially for those institutions with a high percentage of loans tied to oil and gas service companies.
Oil is taking its toll, but the local economy will not crash and burn this time around. Living
in South Louisiana, we are not strangers to ups and downs in the oil
and gas industry. It comes with the territory. There is no doubt the
local economy has shifted this year; however, because of
diversification, the economy has been slower to slump. I’ve spoken about
the importance of economic diversity for a long time, and it’s
satisfying to see decades of progress making a difference now — when
it’s needed most.
Jeremy Adler, a spokesman for America Rising Squared, says his organization “likes to keep tabs on all Democrats running for or in office and seeks to highlight their vulnerabilities.” But he adds that Edwards is near the top of its list in terms of governors around the country.