Wednesday, 27 March 2013 13:48
Jindal claims Louisiana Oil and Gas Association supportive of plan, but to what extent?
 

barfieldJindal claims Louisiana Oil and Gas Association is supportive of tax plan, but wait!

 

 

(Photo: Tim Barfield, Secretary of Revenue)
According to the Jindal administration, the Louisiana Oil and Gas Association is supportive of the Governor’s tax reform proposal as it relates to the oil and gas industry.

This appears to be a big win for Governor Jindal who, to date, has not received good media support from the major newspapers nor has he obtained much backing from other business and other organizations.

Also, just how supportive LOGA might be remains to be seen.

Here is the press release the Jindal administration sent out on Wednesday afternoon:

IN CASE YOU MISSED IT

Louisiana Oil & Gas Association: Tax Reform Good For Louisiana Jobs


BATON ROUGE – This morning, the Louisiana Oil & Gas Association (LOGA) issued a press release supportive of Governor Jindal’s tax reform proposal as it relates to the oil & gas industry.  LOGA President Don Griggs said, “We believe the proposal we have discussed with the administration will create more jobs in the oil and gas industry for Louisianans.” 

Read The Release Here: 

Excerpts:“… 

“LOGA President Don Briggs stated, “… We believe the proposal we have discussed with the administration will create more jobs in the oil and gas industry for Louisianans.” … 

“Briggs continued by saying, “Through our conversations, the administration has indicated that the oil and natural gas service sector would remain exempt from the sales tax on services. This is good news. Also, we have worked with the administration to retain and modify certain exemptions that are currently on the books in order to stimulate job growth and grow Louisiana’s economy.” 

…”

 Read The Release Here

Here is the press release from Briggs.  The bolded portion is by Bayoubuzz and represents the portion of the statement not promoted by the Jindal press release::

LOGA Statement Concerning An Agreement Reached Regarding Governor’s Tax Package0

FOR IMMEDIATE RELEASE: Baton Rouge, LA- Today, in response to ongoing conversations with the Jindal Administration regarding the governor’s proposed tax plan, LOGA is releasing the following statement:

 LOGA President Don Briggs stated, “We are pleased that we have reached an agreement with the administration on how to re-structure the severance tax incentives and sales tax incentives that apply to the oil and natural gas industry. We believe the proposal we have discussed with the administration will create more jobs in the oil and gas industry for Louisianans. The upstream sector of the industry that LOGA represents is supportive of the tax swap, however the midstream/downstream sectors are continuing to evaluate the plan.”

Briggs continued by saying, “Through our conversations, the administration has indicated that the oil and natural gas service sector would remain exempt from the sales tax on services. This is good news. Also, we have worked with the administration to retain and modify certain exemptions that are currently on the books in order to stimulate job growth and grow Louisiana’s economy. While a specific tax plan bill has not been drafted or filed at this time, the oil and gas industry certainly looks forward to reviewing the bill.”

The press release itself from Jindal did not mention that the midstream/downstream sectors are continuing to evaluate the plan.  Nor did it state that “While a specific tax plan bill has not been drafted or filed at this time, the oil and gas industry certainly looks forward to reviewing the bill.”

To what extent the midstream/downstream sectors are supportive of the plan and exactly what are the specific words that will be in the legislation are unknown.

Bayoubuzz will provide an update as to LOGA’s supportive position once those uncertainties are known..

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