Energy continues to be a driving force in the world economy. Not only does it fuel our cars, our factories and our homes, but energy has become one of the major factors making up the political landscape of our country.
Lafayette has made a constant effort to diversify its economy in the past decades and has had incredible success in doing so. However, the heart and soul of the city remains oil and gas.
Lafayette and the Chamber took on another challenge beginning in 2010 – Compressed Natural Gas (CNG). The Lafayette Chamber has been a driving force in promoting the use of CNG to power vehicles. In fall 2011, the Chamber hosted a fleet seminar and workshop on CNG. Major CNG players gave presentations and testimonials regarding their own initiatives to convert their fleets to CNG. The Lafayette Transit System CNG buses began operation in September 2011.
CNG is a readily available alternative to gasoline that is made by compressing natural gas to less than 1 percent of its volume at standard atmospheric pressure. Consisting mostly of methane, CNG is odorless, colorless and tasteless. It is drawn from a domestically drilled natural gas well in geological formations across America. Natural gas is an effective transportation fuel for four key reasons: it is Clean, Abundant, Affordable and American. Learn more at www.cngnow.com.
Lafayette is also home to many different industry events: Gulf Coast Prospect and Shale Expo, Louisiana Energy Golf Classic and also the Louisiana Gulf Coast Oil Exposition (LAGCOE). LAGCOE just completed its 28th industry showcase on October 25-27, 2011. Like the oil and gas industry, LAGCOE has evolved since its first show in 1955. Originally an exhibition focused primarily on the Louisiana Gulf Coast, today it is one of the two largest petroleum industry conferences in the nation, attracting international attention. Just as the energy industry is constantly advancing to meet new demands and challenges, LAGCOE exhibits and technical sessions are designed to support bold, innovative approaches in the quest for energy. Executives from all over the world fly in to stroll through the CAJUNDOME and the Convention Center and look at over 400 companies showcasing their products. If you are a service company in the energy industry, exhibiting at LAGCOE is a must.
Louisiana is the Energy State. Fifty percent of all of the gasoline and diesel that powers our country flows through and from Louisiana. Lafayette is the heartbeat of Louisiana’s energy economy. Not only are we home to great exploration and production companies, we supply the landmen, the tool-pushers, the survey equipment, the geologists, the legal minds, etc. If it has to do with energy in the state of Louisiana, you can bet Lafayette is involved.
Lafayette has a bright future as the heart of the energy industry. Even as the push for renewables and solar energy grow stronger, America still depends on oil and gas to fuel its economy. Louisiana, the U.S. and the world will have to work with Louisiana for decades to come.