Lets get it right this time. Prepare. Plan. Diversify. Educate. Invest. When you compare how Texas handled the oils bust of the early 80’s to how Louisiana handled it, there is no comparison. Texas was better prepared and had a better plan. They diversified their economy and invested in education when times were good. Long term goals not short sighted ones. We are just at the beginning in what is predicted to be some very good economic times for New Orleans and the state for the next few decades.
We need to prepare, plan, diversify, educate, and invest now. So not if, but when, an 80’s like oil bust hits out area again, we can ride it out like Texas did and not have to struggle for 25 years and get bailed out by Katrina. Prepare. Plan. Diversify. Educate. Invest. Lets get it right this time.