It's fitting that the man who would choose to call his business Optimistic Oil Co. in 1990 would be chosen to represent the industry as LAGCOE Looey this year. The energy industry is in need of Frank Harrison Jr.’s optimistic outlook and then some — as the Obama administration’s proposed legislation could have devastating consequences for its future.
“President Obama’s proposed fiscal year 2010 budget strips from U.S. oil and natural producers economic incentives that are vital to the existence of the industry as we know it today,” Louisiana Oil and Gas Association President Don Briggs wrote in his June column in Acadiana Business. “Obama’s proposed budget is not a mere confrontation but instead a direct frontal attack on the core economic fundamentals that help provide capital to a high-risk, capital-intensive industry.”
Harrison was “hard-hatted” as LAGCOE Looey at the Petroleum Club Monday, saying he was honored to be representing the “Working Man’s Oil Show” and noting that he had spent his career working in the best industry in the world. “The only direction we’ve ever gotten from Washington is to keep energy cheap,” Harrison said, “and we’ve been able to do that so that the U.S. economy could become the greatest society the world has ever known. I’m proud to be in an industry that helped make that happen.”
LAGCOE Looey made his debut as an affable representative of the first show in 1955. Each year since then, a person has been chosen for accomplishments in, and contributions to, the energy industry. Harrison was born in Bastrop, where his father was employed by Union Producing Company as an area production and drilling supervisor. He studied geology at LSU and moved to Lafayette in 1956, working as district geologist for TransTex Drilling Company, a subsidiary of Husky Oil Co. He struck out on his own in 1959, eventually establishing Optimistic Oil Co. His son, Billy, is a partner in Houston Energy LP.
Throughout his five decades in Lafayette, Harrison has been an active civic and business leader. Additionally, he has contributed significantly on the technical side of his profession, having authored and presented 15 papers to a number of geological groups nationwide.
From Oct. 27-29 at the Cajundome and Cajundome Convention Center, Lafayette will host LAGCOE, the country’s 2nd largest energy exposition. LAGCOE provides unprecedented access to key decision makers, state-of-the-art technologies and the very latest in offshore and onshore drilling capabilities. In 2007 (the show is held biennially), LAGCOE featured 328 exhibiting companies, 755 indoor and outdoor exhibit spaces and welcomed more than 16,000 attendees.
Admission to the show and technical presentations is free but is limited to energy industry personnel.
Under the deal, Teche shareholders would get 1.162 shares of IberiaBank, of Lafayette, for each share of Teche stock.
Gov. Bobby Jindal's plan to use $210 million in surplus and one-time money to help balance next year's budget received the backing Thursday of the State Bond Commission, support that was needed for the maneuver to work.
Acadiana's nightlife guide.
State wildlife and fisheries agents have arrested a 39-year-old man accused of stealing crawfish.
An East Feliciana Parish lawmaker has jettisoned his proposal to make it harder for a condemned prisoner to appeal a death sentence.
Senators advanced a proposal Wednesday that would let the governor remove New Orleans-area levee board members for violating what he considers to be public policy, despite concerns it would introduce political meddling into state flood protection.
Here's your daily look at late-breaking national and international news, upcoming events and the stories that will be talked about Thursday, April 17, 2014:
Thursday's Blogs from the Bog!
The must have pieces this season
Dave Perkins, LCG Comp Plan honored along with local architects and designers at the 2014 INDesign Awards
Greg Manuel’s Lafayette-based residential development company is taking advantage of exponential industrial growth in Lake Charles.
Longtime Lafayette retailer ventures online.
It’s not how aggressive or conservative you are — it’s planning for risk that matters most.
Thanks to cutting-edge digital technology, more and more consumers are banking on ATMs and mobile phones.
Regional bank bids farewell to Downtown May 30
ABiz takes a look back at the most noteworthy moments for the local banking industry over the last year.
Most experts say short-term interest rates will be unchanged through 2014, but long-term rates are inching up.
Largest recruitment event in Acadiana returns May 21 to the Cajundome Convention Center
A lawyer’s ad should only be a starting point, as there is much more to consider when seeking quality representation.
Thanks to the inaugural 2012 INNOV8, a design for lifting heavy objects was brought to market.
The annual juried competition recognizes excellence in architecture, interior design and historic preservation in Lafayette and the five surrounding parishes.
Cypress Bayou GM hosts open house.
New hires, promotions, transfers in Acadiana business
The scion of a landmark Four Corners restaurant climbs back into Lafayette’s culinary scene as franchisee for a popular burger chain.
The Lafayette City-Parish Council on Tuesday will vote on a resolution that if approved would clear the way for a December ballot proposition asking voters to approve a 1-cent sales tax parishwide to help fund the construction of a new terminal at Lafayette Regional Airport.
His company bankrupt and being liquidated, the Lafayette businessman’s financial troubles are mounting.
Jefferson Street Pub continues its generous tradition with its 4th Annual Festival Preview Party this Thursday featuring Big Sam’s Funky Nation.
Just days before the fourth anniversary of the 2010 Deepwater Horizon disaster and oil spill, the Coast Guard has moved cleanup of Louisiana's coast to a new phase, allowing BP to end its "active" efforts in the area.
Legislators still must leave their guns at the door of the Louisiana Capitol.
Acadiana's nightlife guide.