LAFAYETTE, La. (KLFY) – U.S. Rep. Charles Boustany visited KLFY-TV Friday afternoon to talk about several issues, including the way low oil prices are impacting Louisiana.

Boustany (R-LA 3^rd District) said the drop in oil prices is a double edged sword. It’s great for consumers. But he said some oil companies that do exploration and production have cut their budgets in half and laid off workers.

Boustany said the United States is putting more oil into the market. The oil supply is high, but demand is down. He said the U.S. needs to open up new trade markets for American products around the world to increase demand for oil.

“Open energy markets, using technology to get more supply onto the market with the United States leading in this effort is a good thing in the long run,” Boustany said. “I think once the global market for oil accommodates the new American production, I think we’ll see price stability where everybody’s reasonably happy.”

Boustany said the price of oil seems to have stabilized in the past week or so.