I would like to know if Foster Cambell support legalizing medical marijuana in Louisiana. We need to stop sending nonviolent people to jail. I haven't head anyone bring it up yet.
Foster's plan is elegant, and would work. The usual objection is, "B-but, the oil companies would move out!" Oh, really? Where are they gonna go? They're here because they need our refineries, and our Mississippi River (which we have the mouth of). What're they gonna do, move the largest river on the continent to another State!?
Most of the refineries in the Eastern half of the U.S. are already operating at near capacity. It takes over a decade to bring a new one online. They can't use the Western U.S. because the oil tankers won't fit in the Panama Canal.
Foster's $5½bil estimate in revenue from the processing tax is AFTER TAKING INTO ACCOUNT that the oil companies will divert as much business away from us as they feasibly can.
We currently get only about $3 billion per year from the combination of state income taxes on individuals and businesses, and on the 12½% severence tax that's levied ONLY on the oil & gas pumped up from UNDER LA SOIL. $5½bil - $3bil = $1½bil that we would get in EXTRA MONEY even AFTER eliminating all of those taxes! That's not even taking into account the boost to the economy (and thus State sales & property tax revenue) from the elimination of those taxes themselves!
The severance tax made sense in the 1920s when it was passed. It kept making sense through the early 1970s, when our fields peaked. LA once provided up to 95% of the oil used by the entire USA (people think of Texas as the Oil State, but LA really is). Now we provide less than 5%, and dropping. Yet our tax system is still that which was set up when we provided 95%.
Mike, I'm not sure what you mean. As the largest city in the state, New Orleans has only lagged behind Baton Rouge for notice in the Gov's or Legislature's eyes.
North La, on the other hand, rarely gets more than lip service from Baton Rouge until Kathleen Blanco got into office. While I would never vote for her, she was the first Governor to actually put forth some effort in bringing in business to somewhere above I-10.
Keep in mind that having good roads through North Louisiana (e.g. I-49 extended north) helps South Louisiana as well, as that helps bring business from the rest of the country through Louisiana.
Foster recognizes the importance of New Orleans, otherwise, why would he be talking about using the money from the fee he would charge the foreign oil companies to rebuild the wetlands? Rebuilding the wetlands helps New Orleans, Mike. If he wants to do that, how can you say that he doesn't care about New Orleans?
Where's Jindal's plan to rebuild the wetlands? Go to the federal government? How's that worked out for us so far?
I would like to know if Foster Cambell support legalizing medical marijuana in Louisiana. We need to stop sending nonviolent people to jail. I haven't head anyone bring it up yet.
WordBankOwner 4 years ago
Foster's plan is elegant, and would work. The usual objection is, "B-but, the oil companies would move out!" Oh, really? Where are they gonna go? They're here because they need our refineries, and our Mississippi River (which we have the mouth of). What're they gonna do, move the largest river on the continent to another State!?
COMALiteJ 4 years ago
Most of the refineries in the Eastern half of the U.S. are already operating at near capacity. It takes over a decade to bring a new one online. They can't use the Western U.S. because the oil tankers won't fit in the Panama Canal.
Foster's $5½bil estimate in revenue from the processing tax is AFTER TAKING INTO ACCOUNT that the oil companies will divert as much business away from us as they feasibly can.
COMALiteJ 4 years ago
We currently get only about $3 billion per year from the combination of state income taxes on individuals and businesses, and on the 12½% severence tax that's levied ONLY on the oil & gas pumped up from UNDER LA SOIL. $5½bil - $3bil = $1½bil that we would get in EXTRA MONEY even AFTER eliminating all of those taxes! That's not even taking into account the boost to the economy (and thus State sales & property tax revenue) from the elimination of those taxes themselves!
COMALiteJ 4 years ago
The severance tax made sense in the 1920s when it was passed. It kept making sense through the early 1970s, when our fields peaked. LA once provided up to 95% of the oil used by the entire USA (people think of Texas as the Oil State, but LA really is). Now we provide less than 5%, and dropping. Yet our tax system is still that which was set up when we provided 95%.
COMALiteJ 4 years ago
Mike, I'm not sure what you mean. As the largest city in the state, New Orleans has only lagged behind Baton Rouge for notice in the Gov's or Legislature's eyes.
North La, on the other hand, rarely gets more than lip service from Baton Rouge until Kathleen Blanco got into office. While I would never vote for her, she was the first Governor to actually put forth some effort in bringing in business to somewhere above I-10.
Bardweiser 4 years ago
Keep in mind that having good roads through North Louisiana (e.g. I-49 extended north) helps South Louisiana as well, as that helps bring business from the rest of the country through Louisiana.
COMALiteJ 4 years ago
We need a governor who realizes the importance of New Orleans for a change. I'm tired of these hicks from northern LA who hate New Orleans.
Jindal is young, progressive (for a conservative), and recognizes that without New Orleans, Louisiana is Mississippi.
MikeStanley4 4 years ago
Foster recognizes the importance of New Orleans, otherwise, why would he be talking about using the money from the fee he would charge the foreign oil companies to rebuild the wetlands? Rebuilding the wetlands helps New Orleans, Mike. If he wants to do that, how can you say that he doesn't care about New Orleans?
Where's Jindal's plan to rebuild the wetlands? Go to the federal government? How's that worked out for us so far?
DailyKingfish 4 years ago