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Rising Gas Prices: Good Or Bad For Lafayette?

 Oil Exploration
(Photo by Scott Olson/Getty Images)

We have learned over the past year with tragedy in the Gulf of Mexico that while not everyone in South Louisiana works in the oil field. We all have purse strings that are tied to petroleum, the life blood of the Lafayette Economy. The administration’s moratorium on drilling has crippled if not fatally wounded local shops and business’ from machine shops to daycare.Now that oil prices are starting to rise and profits are being made what is the trade off? The rising price of gas is it good or bad for Lafayette’s economy? I can see for the family on a tight budget four or five extra dollars every tankful will add up quickly, but a strong oil filed economy will more than likely keep money flowing, hiring on the increase and the job market healthy. What do you think? Is the price of gas something you can live with if it means jobs and an increase tax base for the area or would you rather see the price of gas come down a dollar or so?

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