Louisiana contains abundant fossil fuel deposits beneath its thick onshore and offshore deltaic sediments. Production of crude oil peaked in the early 1970s, but the state ranks among the top oil and natural gas-producing states in the nation.
The Henry Hub in Erath, Louisiana, connects to four intrastate and nine interstate pipelines owned by various public and private operators. The hub provides access to major markets throughout the country and lends its name to the pricing point for natural gas futures trading on the New York Mercantile Exchange.
Louisiana's 19 oil refineries account for nearly one-fifth of the nation's refining capacity.
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Unlike most other states, does not have a renewable portfolio standard.
Allows the use of conventional motor gasoline throughout the state.
Requires permits and surety for oil and gas well drilling. Permit fees begin at $126 and increase for deeper wells and longer drilling durations. Compliance bonds start at $1.00 per foot on land (increasing for deeper wells), $8.00 per foot for "inland water" wells and $12.00 per foot for offshore wells.
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