2009-0153
INTRODUCED BY: TERRY AUTHEMENT, COUNCILMAN-AT-LARGE, DIVISION B
CAROLYN K. SCHEXNAYDRE, COUNCILWOMAN-AT-LARGE, DIVISION A
DENNIS NUSS, COUNCILMAN, DISTRICT VII
RESOLUTION NO.
Title
A resolution in opposition to the Federal FY 2010 Budget as it relates to the elimination of 30 billion dollars from the Oil and Gas Industry to fund alternative energy projects and to send this opposition resolution to the Louisiana Police Jury Association, all Local and Parish Governments, and the Local Federal and State Delegation.
Body
WHEREAS, the FY2010 budget proposes to eliminate tax incentives that have been in place for the oil and gas industry that allows them research and development (exploration and production) dollars; and,
WHEREAS, elimination of these dollars will increase gas prices and cause the loss of 5.929 million American jobs - 1) 1.838 million Americans directly employed in the United States Oil and Gas Industry; 2) 4.066 million indirect jobs created by the oil and gas industry; and,
WHEREAS, the abrupt and dramatic removal of tax incentives currently available to oil and gas exploration and production will result in a significant reduction in domestic energy production; and,
WHEREAS, this will result in increased reliance on foreign oil and gas until alternative domestic energy can fill the void, and this drastic decline in domestic production will have an overall adverse impact on domestic energy production; and,
WHEREAS, this Council urges the Federal Government Administration to retain some of the tax break incentives that have been in place for oil and gas producers, but are to be eliminated in the 2010 budget; and,
WHEREAS, the Administration's proposed budget for 2010 would strip essential capital from new American natural gas and oil investment by radically raising taxes through the elimination of tax exemptions on American production. The FY 10 budget provides for a nearly $30 billion dollar tax increase on the natio...
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