Dr. Loren Scott just finished his annual Economic Forecast for the State of Louisiana and the news is the economy is going to get better, but first it’s going to get worse. The interview explains why from OPEC to European gas to natural disasters to Biden’s policy’s.
“People should be prepared for a national recession. It’ll start probably in the first quarter of next year and the last three quarters,” said Dr. Scott.
Dr. Scott said Louisiana is a different economy than other states due to their importing exporting ports, fossil fuel ecosystem and natural disasters. Over the past year and a half Louisiana has experiences five natural disasters and the rebuild will happen during the national recession. Dr. Scott believes as a whole, the state will add more than 14,000 jobs in 2023 and more than 30,000 jobs in 2024.
“Three major hurricanes, Winter Storm Uri, and floods have seriously arrested the state’s growth,” Dr. Scott said.
The interview also dives into Europe’s decisions to go “all-in” on the Green Movement and outlaw fossil fuels. Dr. Scott believes Europe is going to have a rough, expensive winter, pointing the blame at their full commitment to doing away with fossil fuels.
Dr. Scott also explains why taking barrels out of the Strategic Oil Reserves is putting America at risk and why the current direction of natural gas is putting places like Chicago and New York at risk this winter.
Dr. Scott also gives an update on Lake Charles and the $3B dollars of activity happening in that region.
Loren C. Scott & Associates, Inc., is a 35-year old firm that provides economic consulting and public speaking services for a wide range of clients. Consulting activities include impact studies, forecasting services, analysis of policy proposals, and general economic analyses. Consulting clients include BP, ExxonMobil, Entergy Corporation, J. P. Morgan Chase, Capital One Financial, Nucor, Sasol, and a diversity of others. Our objective is to put together the very best team of associates to attack our client’s problems. Dr. Scott makes 50-70 presentations a year on the state of—and the outlook for—the economy and the energy sector in particular.
He is one of the 32-member National Business Economic Issues Council, which meets quarterly to discuss issues of state, national, and international interest. This group has experts who cover international trade, Washington economic policy, retail trade, trucking, steel, chemicals, etc. Dr. Scott is an energy specialist on the NBEIC. He has been appointed to the Economic Advisory Board of the U.S. Council on Competitiveness—a group made up of the CEOs of the Fortune 100, top university presidents, and presidents of three major unions.
He has been interviewed on MSNBC, CNBC, Bloomberg TV, and several local TV stations and his work has been cited in such publications as the Wall Street Journal, the Financial Times, USA Today, the Los Angeles Times and the Moscow Times, to name a few.
Dr. Loren C. Scott is President and founder of the firm. He was on the Economics Department faculty at Louisiana State University from 1969 to 1998, where he rose through the ranks from Assistant Professor to the holder of the Freeport-McMoran endowed Chair of Economics. He is presently Professor Emeritus of Economics at LSU.
Over the thirteen-year period from 1983-96, Dr. Scott was the chairman of the Economics Department at LSU. During that time, the Department’s ranking among the 3,000 economics departments in the U.S. rose from 101st to 38th. He received 7 awards at LSU for outstanding classroom teaching.
Dr. Scott is co-developer of the Louisiana econometric model, a model used for providing annual forecasts of the Louisiana economy, which are released each fall. He was a co-investigator on over $1 million in grant research at LSU and is the author of over 75 articles and technical reports in addition to reports written for consulting clients.
About The Crude Life
Award winning interviewer and broadcast journalist Jason Spiess and Content Correspondents engage with the industry’s best thinkers, writers, politicians, business leaders, scientists, entertainers, community leaders, cafe owners and other newsmakers in one-on-one interviews and round table discussions.
The Crude Life has been broadcasting on radio stations since 2012 and posts all updates and interviews on The Crude Life Social Media Network.
The Crude Life is non-political with a focus on the people, lifestyles, culture and innovations surrounding energy extraction and development. Content Producers are trained or educated in journalism, media or content creative studies.
Everyday your story is being told by someone. Who is telling your story? Who are you telling your story to?
#thecrudelife promotes a culture of inclusion and respect through interviews, content creation, live events and partnerships that educate, enrich, and empower people to create a positive social environment for all, regardless of age, race, religion, sexual orientation, or physical or intellectual ability.
Sponsors, Music and Other Show Notes
Studio Sponsor: The Industrial Forest
The Industrial Forest is a network of environmentally minded and socially conscious businesses that are using industrial innovations to build a network of sustainable forests across the United States.
Weekly Sponsor: Stephen Heins, The Practical Environmentalist
Historically, Heins has been a writer on subjects ranging from broadband and the US electricity grid, to environmental, energy and regulatory topics.
Heins is also a vocal advocate of the Internet of Everything, free trade, and global issues affecting the third of our planet that still lives in abject poverty.
Heins is troubled by the Carbon Tax, Cap & Trade, Carbon Offsets and Carbon Credits, because he questions their efficacy in solving the climate problem, are too gamable by rent seekers, and are fraught with unreliable accounting.
Heins worries that climate and other environmental reporting in the US and Europe has become too politicized, ignores the essential role carbon-based energy continues to play in the lives of billions, demonizes the promise and practicality of Nuclear Energy and cheerleads for renewable energy sources that cannot solve the real world problems of scarcity and poverty.
Weekly Sponsor: Great American Mining Co
Great American Mining monetizes wasted, stranded and undervalued gas throughout the oil and gas industry by using it as a power generation source for bitcoin mining. They bring the market and our expertise to the molecule. Our solutions make producers more efficient and profitable while helping to reduce flaring and venting throughout the oil and gas value chain.
Learn. Laugh. Liberate and Linger around ESG University! ESG stands for Environmental Social Governance and it’s what’s driving business and politics today.
Studio Email and Inbox Sponsor: To Be Announced
Featured Music: Alma Cook
For guest, band or show topic requests, email studio@thecrudelife.com
Spread the word. Support the industry. Share the energy.
