quote:
For one, if he had a lick of sense, Louisiana would have been getting oil royalties back then and be one of the more stable financial states in America.

What is this about? I need to brush up on my LA history and google wasn't helping me quickly enough.

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Posted by GeeOH

Louisiana

Member since Dec 2013

13376 posts

Posted on 3/17/14 at 2:31 pm to jammintiger

quote:
What is this about? I need to brush up on my LA history and google wasn't helping me quickly enough.

Bot sure if it was Blanco or Jindal, but we finally held the oil companies responsible for paying royalties to Louisiana for oil wells off our coast. Texas had been doing it for years and other states as well.
Maybe someone else can shed more light on the topic, but Louisiana lost out on millions, if not billions, in revenue generated from offshore (and maybe onshore) royalties.
Anyone know more precisely about these funds or this topic?

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Posted by kingbob

Sorrento, LA

Member since Nov 2010

67231 posts

Posted on 3/17/14 at 4:17 pm to jammintiger

quote:
What is this about? I need to brush up on my LA history and google wasn't helping me quickly enough.

Where Texas received preferential treatment relative to other states with regards to oil and gas royalties (Texas's state waters extend 10 miles from shore where Louisiana's extend only 2-5 miles depending on the location). Louisiana finally signed a new deal with the Federal Government a few years ago with the help of Senator Mary Landrieu. This new deal locks in more revenues for the state from offshore oil leases, something that would have greatly changed the history of the state had it been done so during Edwin Edward's tenure as governor.

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