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re: 6 of 8 oil-producing states in recession
Posted on 1/24/17 at 11:11 am to Superior Pariah
Posted on 1/24/17 at 11:11 am to Superior Pariah
Targeted tax cuts are likely to increase economic diversity. Make it worth tech companies' while to invest in the area. Continue to improve the health care industry. Move away from manufacturing so much and into services and financial sectors. There are plenty of educated people in Louisiana, they are just either underutilized or leave to go to Texas or Alabama or Tennessee.
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Posted on 1/24/17 at 11:13 am to ihometiger
quote:
Keystone also means the price of oil will go lower in the future not higher and that should impact the Louisiana budget even more. Until you get rid of the state government spending nothing will change here.
I don't think Keystone and Dakota Access possibly getting built will have a huge impact on the commodity price
Posted on 1/24/17 at 11:14 am to Cosmo
quote:
Louisiana has nothing else. Unless you cut taxes bigly to encourage business growth.
Our shithead governor wont do that though
frickin eh, Cotton.
Christ OP, this is like asking if a man dying of thirst should drink his own urine to survive. We'd love to have a (more) diversified economy, but given the tax structure, infrastructure, and lack of educated workforce, its not like we have many options.
Posted on 1/24/17 at 11:16 am to Cosmo
What's the short-term (5 years or so) outlook for oil production in Louisiana? I'm sure the majority is of-shore drilling or is it elsewhere?
Barksdale Air Force base?
Hell, wasn't Delta based in Louisiana? Who dropped the ball and let them get to Atlanta?
quote:
Louisiana has nothing else.
Barksdale Air Force base?
Hell, wasn't Delta based in Louisiana? Who dropped the ball and let them get to Atlanta?
Posted on 1/24/17 at 11:16 am to Superior Pariah
Louisiana is a state full of dumbasses. Look at our education rankings.
With our resources (similar to Texas) we should be wealthy beyond measure, but we've always elected idiot politicians attempting to backdoor their way to the whitehouse: taking bribes at every step along the way.
The major oil companies have manipulated Louisiana's decisions makers into making oil the only major industry in the state. This way the oil companies can always have their way with whichever policy that threatens to come against them. Any time they feel any sort of pressure, they can simply start laying off. Them offshore baws with 10th grade educations will come screaming- pitchforks and truck nuts in-hand. Their wives will also take to Facebook to tell you all about it too.
Can't rely on their wives' incomes to ease the financial stress because they're either hairdressers, LPNs, or just don't have a job at all.
Of course then you have to take into consideration the Bible thumpers who won't entertain Marijuana as a viable industry because it's "uvv da Devil", therefore ignoring potential billions in revenue.
Combine the former with the overwhelming portion of the population that makes meth, uses dead relatives' welfare checks, and/or will kill another human being over a pair of Jordans; and you quickly realize how sad Louisiana really is.
With our resources (similar to Texas) we should be wealthy beyond measure, but we've always elected idiot politicians attempting to backdoor their way to the whitehouse: taking bribes at every step along the way.
The major oil companies have manipulated Louisiana's decisions makers into making oil the only major industry in the state. This way the oil companies can always have their way with whichever policy that threatens to come against them. Any time they feel any sort of pressure, they can simply start laying off. Them offshore baws with 10th grade educations will come screaming- pitchforks and truck nuts in-hand. Their wives will also take to Facebook to tell you all about it too.
Can't rely on their wives' incomes to ease the financial stress because they're either hairdressers, LPNs, or just don't have a job at all.
Of course then you have to take into consideration the Bible thumpers who won't entertain Marijuana as a viable industry because it's "uvv da Devil", therefore ignoring potential billions in revenue.
Combine the former with the overwhelming portion of the population that makes meth, uses dead relatives' welfare checks, and/or will kill another human being over a pair of Jordans; and you quickly realize how sad Louisiana really is.
This post was edited on 1/24/17 at 11:31 am
Posted on 1/24/17 at 11:17 am to Superior Pariah
quote:
Does it have any other choice?
Leagalize, tax, and grow hemp and marijuana both for recreational use and textile industries. Sugar, cotton, etc...
This post was edited on 1/24/17 at 11:18 am
Posted on 1/24/17 at 11:19 am to DirtyMike
quote:
Like the previous governor? That worked out so well for us.
right, cause high business taxes are such an economic incentive and provide so much growth.
we have a spending problem, not a revenue problem
Posted on 1/24/17 at 11:20 am to GaryMyMan
quote:
Sorry, but that's a crock of shite sold to you by industry lobbyists. If they can produce oil economically here (pulling costs) then they will. Producers are flocking to the Permian right now because it's the cheapest place in the country to get oil out of the ground. That's it. Not because of taxes or "state regulations" or any other political bullshite.
Just because the bold part of your post is true doesn't mean the rest of it is. You seem to understand that a company's decision will be based on costs, but somehow fail to grasp that a state regulation could impose a cost that a company has to consider.
Look into Legacy Lawsuits. I'm not going to give any specific links because I don't want to be accused of advancing an agenda, just look it up and decide if a legacy lawsuit represents potential expense or potential profit for an operator. If you decide that it represents a potential expense, then it should be considered a cost (If you think it is revenue then you don't understand enough words for this to be explained).
If you understand that companies consider costs when deciding whether or not to drill, then wouldn't the existence of legacy lawsuits increase the costs associated with operating a well?
And if the costs of operating a well are artificially increased, then wouldn't that turn some wells from economical into uneconomical?
And when deciding between two potential wells, with the exact same geological conditions, wouldn't a company always choose the well without the additional artificial costs?
Posted on 1/24/17 at 11:26 am to studentsect
quote:
If they can produce oil economically here (pulling costs) then they will. Producers are flocking to the Permian right now because it's the cheapest place in the country to get oil out of the ground. That's it. Not because of taxes or "state regulations" or any other political bull shite.
this is counterintuitive. they are in the Permian because of cheap production costs. But taxes and regulations, by definition, make the costs here higher than in the Permian, no? Whats your point? That producers are going to come to La. regardless of costs? Then why are they in West Texas?
Posted on 1/24/17 at 11:32 am to lsusteve1
Well my dad had an interesting take on that. Every time we approve any sort of revenue it always seems to get redirected or pilfered on some other bullshite. So we're not willing to approve any tax of any sort because we don't trust our government to spend it appropriately.
Posted on 1/24/17 at 11:33 am to studentsect
The main driving factor is what it takes to get it out of the ground. Of course the other stuff is factored in but if somebody discovers another strong asset in Louisiana they are going to drill it out
Posted on 1/24/17 at 11:42 am to Superior Pariah
The MAGA hat industry is still going strong
Posted on 1/24/17 at 11:51 am to Superior Pariah
quote:
Does it have any other choice?
No, LA is the dumbest, fattest state in the Union. Oil and New Orleans are the only engines that run.
Why would any business (manufacturing, IT, banking etc) come to a state where the workforce is so stupid you would have to bring in workers from out of state?
Posted on 1/24/17 at 11:53 am to Oddibe
You need to put this lone operator in touch with the companies currently drilling in Louisiana, he clearly knows better
Posted on 1/24/17 at 12:00 pm to ShaneTheLegLechler
quote:
Of course the other stuff is factored in but if somebody discovers another strong asset in Louisiana they are going to drill it out
Yep, they are going to drill where the oil is regardless. The problem is, drilling may come back for a while in the US but then all that oil will glut the market and prices will crater again. If you look at the oil producing states in recession, most have low tax/regulatory burdens (i.e. Oklahoma, Wyoming). Also, Texas is near recession and the only thing keeping it from going south is a more diversified economy.
Posted on 1/24/17 at 12:18 pm to Cosmo
quote:Jindal is no longer our governor
Our shithead governor wont do that though
Posted on 1/24/17 at 12:19 pm to mofungoo
quote:
At least we have a pro-business White House now. Oil's coming back
Posted on 1/24/17 at 12:21 pm to BeerMoney
We invested over a billion dollars in the movie business and if don't continue to bribe the movies to come to La. they won't.
How much sense does that make?
How much sense does that make?
Posted on 1/24/17 at 12:23 pm to Winston Cup
quote:
Tourism/ Hotel Revenue (NOLA only)
And lake chuck
And shreveport
Stupid southeast louisiana fricks
Posted on 1/24/17 at 12:27 pm to Cosmo
quote:
Louisiana has nothing else. Unless you cut taxes bigly to encourage business growth.
Our shithead governor wont do that though
Jindal tried and nearly bankrupted the state in the process when there wasn't enough new businesses coming
This post was edited on 1/24/17 at 12:31 pm
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