A joint hearing of the Louisiana House and state Senate committees on Natural Resources met Monday to “informally discuss the issues” involving legislation that would change the procedures leading to lawsuits over the environmental damage.Dismukes said in an email to The Advocate late Monday that he could not comment because he had not yet seen the Whitelaw report.
“Legacy lawsuits are strongly and negatively correlated with Louisiana drilling activity,” Dismukes’ report says. “Increases in legacy lawsuits are correlated with reductions in conventional Louisiana oil and gas drilling.”
Whitelaw, founder of ECONorthwest, a Portland, Ore., company that provides financial analysis for businesses and governments, said Dismukes’ widely quoted analysis has several major flaws.
“Understand that these errors, and there are three or four big ones, any one of which is enough to render his analysis nonsense,” Whitelaw said. “These are rookie errors.”
For instance, Whitelaw said, the analysis omits a relevant variable. Dismukes included data from 2005 and 2006, when the Louisiana energy industry was battered by two hurricanes, and stops his analysis in 2007.
“He fails to mention Hurricane Katrina or Hurricane Rita anywhere in the report,” Whitelaw said.
“In our opinion, the Dismukes document fails to meet any of these professional standards. And this failure matters to the degree that the Dismukes document is fatally flawed, both theoretically and empirically. Nowhere does Dr. Dismukes present a coherent economic model linking legacy lawsuits and decisions to drill in Louisiana,” the ECONorthwest report states.
“I can assure the Louisiana Oil and Gas Association did not put a dime into the study and never requested it,” Briggs said. “It’s political strategy. It’s intimidation and for lack of a better word-trickery.”Read that report here.
Carmouche said the most recent action in the case has been LSU’s attempt to stop the deposition from occurring.
“It’s absurd to me that our flagship university in the face of our complete awareness that this was bought and paid for by the major oil companies-that they would deny us the right to depose this so-called expert over there, but they are moving to quash it,” Carmouche said.
Shoppers familiar with Louisiana-based Rouses Market might be surprised when they walk into the new third location set to open at the Corner of Johnston Street and Duhon Road south the Acadiana Mall on Wednesday.
Noted architect and co-founder/principal of Architects Southwest receives highest honor given to former student.
Know an innovator, job creator and visionary with a penchant for hard work? We want to know that person.
If you care about the wellbeing of Louisiana’s college students, vote against Amendments 1 and 2.
A Mandeville media consultant with big name political connections pleaded guilty Monday to a series of federal mail fraud charges.
Despite a decline in global oil prices affecting the outlook for domestic ethylene producers, South African company moves forward.
1,595 rigs were exploring for oil and 332 for gas. A year ago there were 1,738 active rigs.
Prestigious honor annually recognizes a single attorney for excellence in public interest/pro bono work.
JPMorgan Chase is giving $1 million to Louisiana's community and technical colleges, to help with workforce training efforts to match students to available jobs.
Law firm unveils newly renovated 200-year-old building.
UL grad named web developer at BBR Creative
Lafayette-based emergency department staffing and management company raises $120 million in senior credit facilities through GE Capital, Healthcare Financial Services.
High-rise apartment building, parking garage, hotel and retail part of new development.
The number of Louisianans with jobs continued to set records in September, but the state's unemployment rate kept rising.
Louisiana is drowning, quickly.
An investment group led by Macquarie Infrastructure and Real Assets will buy the Louisiana power company Cleco for $3.4 billion.
Local developer’s Lake Charles Gardens LLC purchases buildings and leases; land still owned by Dugas family.
Economist Loren Scott says Louisiana is in the midst of an industrial boom unlike any other in its history, with more than $100 billion in industrial projects either under construction or in the engineering and design phase.
The Louisiana Treasury holds $18 million in Israel Bonds — bonds that earn 2.868 percent when the three-year U.S. Treasury is yielding 1.08 percent.
ABiz celebrates another class of Acadiana's most influential female trailblazers, the Lourdes Foundation honors a local philanthropist and MedExpress in Opelousas celebrates its 22nd year as the “little ambulance service that could.”
Is Louisiana’s O&G industry ready to head south of the border?
Downtown’s newest live-work space for creatives doubles as a gallery for other upcoming artists to show their work.
A maritime case originating in Lafayette federal court could become a game changer for the oil and gas industry.
Here’s what’s at stake in the November Senate race — regardless of whether Republicans gain control of the upper chamber.
From the publisher’s in-box: ABiz reaches out to Lake Charles, time to “Come Home, Louisiana,” and now accepting nominations for Entrepreneur of the Year.