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For Louisiana, low oil prices can and will have a negative impact on our economy. Economic development authorities across the state tell us we are no longer dependant on energy. Try telling that to the workers and their families in Southwest Louisiana.

What does the future hold and how much longer will the low oil prices last? These are all key questions everyone tied to the energy industry have. One of the key concerns has been the storage of all time high levels of surplus inventories of crude oil. Since the beginning of the year,over 19 million barrels of oil were shipped from the U.S. Gulf Coast (mostly Texas) to Canada.

Texas crude oil stored in CanadaCrude-Oil Exports to Canada Kept U.S. Gulf Coast Storage Hubs Below Capacity – Hellenic Shipping News Worldwide

http://news.google.com Tue, 19 May 2015 10:22:32 GMT

Crude-Oil Exports to Canada Kept U.S. Gulf Coast Storage Hubs Below CapacityHellenic Shipping News WorldwideAs production in the U.S. and in Canada has increased in recent years, more oil has criss-crossed the border, allowing both countries to impor …

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While crude oil stored in Canada will relieve some storage pressure in the U.S., low prices continue to be a concern in the industry. Although prices may have stablized, it might be an extended period of time before prices increas.

Adams Resources & Energy: Q1 Shows Concerns, But The Price Is Getting … – Seeking Alpha

http://news.google.com Tue, 19 May 2015 13:28:49 GMT

Seeking AlphaAdams Resources & Energy: Q1 Shows Concerns, But The Price Is Getting …Seeking AlphaAE’s tremendously thin float – barely over 2 million shares – and exposure to the currently volatile oil & gas business likely account for some of the …

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On the otherhand, the U.S. shale boom will not go away. Oil production driven by the shale industry will continue to drive oil production for the forseeable future. The “new balance” of power in the energy industry has indeed changed!

New Balance of Power – New York Times

http://news.google.com Wed, 22 Apr 2015 20:53:23 GMT

New York TimesNew Balance of PowerNew York TimesMore often than not, global supplies of the volatile commodity were controlled by the rulers of desert domains who would otherwise have been powerless had it not been for the oil that bubbled beneath th …

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Only time will reveal what prices in crude oil will do. But we can rest assured the shale industry is here to stay.

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College Entrepreneurship Professor, Serial Entrepreneur, Social Media Expert, & True Lover of the State of Louisiana