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Started By
Message
re: 6 of 8 oil-producing states in recession
Posted on 1/24/17 at 10:27 am to TheCaterpillar
Posted on 1/24/17 at 10:27 am to TheCaterpillar
quote:
quote:
A smart hedging strategy would reduce the impact of state revenue volatility significantly, but something tells me Louisiana's financial management isn't into that sort of thing.
Dramatically reduce corporate taxes in the tech industry to nationwide lows as incentive to put up shop in Louisiana. Then invest in fiber internet and allow office space to be written off on taxes for new businesses in the tech industry.
Something like that.
I was thinking more along the lines of how easy it is to reduce volatility using certain derivatives (futures, swaps, whatever) if your income is so heavily dependent on commodities, but yea, your idea can work, too.
0
Posted on 1/24/17 at 10:28 am to sosaysmorvant
quote:
Instead, they made deals for themselves and screwed the state for an eternity. Life in Louisiana.
Relevant: Huey Long Descendants Have Made Hundreds of Millions from One Lease
Posted on 1/24/17 at 10:30 am to Superior Pariah
quote:
what if in 4 or 8 years we elect a Democrat and oil production gets shut down again?
i don't think you understand. oil exploration wasn't "shut down." people are not drilling because their margins wouldn't be big enough due to saudis flooding the market.
This post was edited on 1/24/17 at 10:31 am
Posted on 1/24/17 at 10:30 am to Superior Pariah
Many oil producers based in Louisiana are seeking drilling opportunities in other states because of the "state regulations". The state has abused the oil industry just like they abused the tax payers for TOPS.
Bad decisions after bad decisions have created the mess that Louisiana faces.
Bad decisions after bad decisions have created the mess that Louisiana faces.
Posted on 1/24/17 at 10:32 am to Oddibe
quote:
Many oil producers based in Louisiana are seeking drilling opportunities in other states because of the "state regulations". The state has abused the oil industry
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.
There are 61 rigs drilling in Louisiana today, third behind Oklahoma at 87 and Texas at 331. Same as it's always been.
This post was edited on 1/24/17 at 10:51 am
Posted on 1/24/17 at 10:33 am to Ed Osteen
quote:
We are paying millions to run traffic light "studies", loops, traffic at LSU games, riot controls,etc.
FIFY
This post was edited on 1/24/17 at 10:34 am
Posted on 1/24/17 at 10:33 am to Cosmo
quote:
Louisiana has nothing else.
What about all dat culture
Culture>Houston
This post was edited on 1/24/17 at 10:34 am
Posted on 1/24/17 at 10:37 am to Cosmo
quote:
Unless you cut taxes bigly to encourage business growth.
I don't know. Seems like Jindal tried that with all kinds of incentives. Doesn't look like it worked.
Posted on 1/24/17 at 10:37 am to Oddibe
quote:
Many oil producers based in Louisiana are seeking drilling opportunities in other states because of the "state regulations". The state has abused the oil industry just like they abused the tax payers for TOPS.
lol wut? Seeking drilling opportunities in other states? I don't think you understand how exploration and drilling works
Posted on 1/24/17 at 10:40 am to Ed Osteen
quote:
What do you mean should LOUISIANA rely on such a volatile industry? What else do we have?
y'all can switch over all them oil fields to crawfish in the down time?
Posted on 1/24/17 at 10:50 am to PhilemonThomas
Legalize marijuana and become the Colorado of the southeast= massive profit. Fwiw I don't even smoke.
Posted on 1/24/17 at 10:51 am to BeerMoney
quote:
Look at our killer infrastructure & roads.
Serious question
Why not add tolls to highways & bridges to increase revenue for infrastructure?
Posted on 1/24/17 at 10:52 am to lsusteve1
Because Louisiana still find a way to frick up tolls with corruption
Posted on 1/24/17 at 10:54 am to Ed Osteen
quote:It's not that difficult to understand. One customer of mine told me they would not drill another well in Louisiana and would only pursue future prospects from other states. It's really not that hard to understand.
lol wut? Seeking drilling opportunities in other states? I don't think you understand how exploration and drilling works
Posted on 1/24/17 at 10:54 am to Cosmo
quote:
Unless you cut taxes bigly to encourage business growth
Like the previous governor? That worked out so well for us.
Posted on 1/24/17 at 10:56 am to Superior Pariah
Too many corrupt conservatives have screwed the state. Little chance for recovery in the next 20 years.
Posted on 1/24/17 at 11:01 am to GaryMyMan
quote:you might be right but that is not what a Louisiana operator told me.
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 bull shite.
This post was edited on 1/24/17 at 11:07 am
Posted on 1/24/17 at 11:08 am to Oddibe
Louisiana is certainly not the best business environment among oilfield states but to unequivocally state you will never drill another well in the state is just dumb and probably not true.
It makes a difference but it isn't so drastic people would just ignore some large discovery in the state.
It makes a difference but it isn't so drastic people would just ignore some large discovery in the state.
Posted on 1/24/17 at 11:10 am to rocket31
quote:
Too many corrupt conservatives have screwed the state. Little chance for recovery in the next 20 years.
Lololol
Posted on 1/24/17 at 11:11 am to ShaneTheLegLechler
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.
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