By Wesley Muller
Louisiana Illuminator
Rising fuel prices typically lead to job growth in an energy hub like Louisiana, but experts say the state is unlikely to see much of a benefit this year as fossil fuel companies have so far been hesitant to spend more on drilling and production.
The energy sector, in Louisiana and the world at large, is still recovering from the decline in demand from the coronavirus pandemic combined with supply collusion from foreign oil suppliers. The market is now dealing with the added disruption of Russia’s invasion of Ukraine, which has caused gasoline prices to surge above $4 per gallon in Louisiana.