Alrighty then! Enough time has been spent waiting for Bush et al to grasp the situation in New Orleans and the decimated coastal parishes. Louisiana needs to take charge of its own destiny – and I like the sound of this:
Blanco: No offshore signoffs unless La. gets royalty share
Money could finance hurricane protection
Gov. Kathleen Blanco warned this week that the state would not support future offshore lease sales in the Gulf of Mexico unless Louisiana gets a share of the federal royalties generated by oil production there.
That’s the right answer! Good on ya!
And as long as folks are getting proactive, Rodger has another good idea over on his blog.
Let’s stop begging Washington. After Bush’s speech tonight it’s obvious we are off the agenda.
We should impose a tax of one dollar on every barrel of oil [produced] in the state.
Between one thing and another, Louisiana does have assets and leverage.
No time like the present to put things into motion – cuz you’re on your own now.
I just made the comment on Rodger’s blog that I think La.’s position is similar to that of a public sector union, in a contract dispute assets and leverage are good, public opinion is better. Blanco’s idea works because it can be used to point out the 3mi/14mi. difference between La.’s offshore limit and some other states’. Unfortunately, I think the new tax idea would be using leverage about as well as PANO did in 1979.
I think LA should absolutely be pressing for the offshore royalty revenue. It’s kind of baffling how they ended up with such a small slice of the pie, compared with other states.
The time to fix that would absolutely be NOW.
OTOH, I’m not sure that a short-term tax /barrel is such a terrible idea – if only for a year or two, even.
I agree that taxing corporations has negative impact the business climate. But these are not normal times for Louisiana. Furthermore, I didn’t see Rodger’s suggestion as wide-ranging (which would indeed dampen the entire economic atmosphere), but focused directly on the industries that are in large part WHY the coast and wetlands are in such sorry straights.