The Louisiana Midcontinent Oil and Gas Association (LMOGA) was one of several business groups that recently met in an effort to seek reform in Louisiana's legal system.
The Louisiana Association of Business and Industry (LABI) and Louisiana Lawsuit Abuse Watch were also present at the luncheon, both of which are pushing for business-friendly reforms that will encourage local companies to stay in state. Additionally, the topic of tort reform was discussed at length, with CEO of LABI, Stephen Waguespack moderating a panel and explaining one of the association's initiatives for the year, which will be to help train business-minded individuals in the principles of running for local and state government.
LABI hopes to help raise up leaders who will be in favor of bringing about tort reform.
LMOGA, which helped to support the event, commented on the need for improvement to the legal climate and what that will mean for the energy companies in the state.
Tyler Gray, president LMOGA Courtesy of LMOGA
“The legal climate continues to create challenges for Louisiana’s economy, which affects oil and natural gas companies and their development," LMOGA President, Tyler Gray, told Louisiana Record.
Gray explained that these challenges are regularly witnessed by his company and that the event was a powerful way to raise awareness about the issues facing the state.
"While LMOGA members are affected by this environment, this event was really about how these challenges affect the everyday consumer," Gray said.
Currently, tort-related costs translate to about $4,000 in costs to the average Louisiana household per year, which injures both individuals and businesses alike.
"With the current climate, these litigation costs are trickling down to all of us,” Gray said.
Many of these litigation costs come directly from lawsuits that are filed in Louisiana, such as those related to car accidents or personal injury claims.